Results round-up _2
It’s been a quiet couple of weeks for staffing business results.
It’s been a quiet couple of weeks for staffing business results.
International legal search and recruitment consultancy Shilton Sharpe Quarry (SSQ) reported profits before tax is up 24% to £1.53m on turnover/gross profit of £7.02m (up 6%) in its audited results for the year ended 31 December 2009.
Director of SSQ, Gareth Quarry, says: “This year has started even more strongly and we are currently on course to increase gross profit by over 30% this year, while improving our net profit margin further.??“While the economic outlook remains uncertain, we have increased our consultant numbers by 75% in recent months both in London and continental Europe and are looking forward optimistically to 2011.”
Meanwhile public sector resourcing and outsourced services provider Servoca reported revenue down 14.8% to £25.6m (March 2009 £30.1m, including £2.28m from closed businesses) for the six months to 31 March 2010.
Profits before tax (excluding share based payments and amortisation) were up 10.5% to £0.95m (March 2009 £0.86m).
In its interim report the company said: “Despite a positive first half performance, it is increasingly clear that uncertainty regarding public sector spending and in particular a reduction on historically high levels of permanent recruitment fees in education, will mean that it is unlikely the group will deliver against its full year expectation.
“Despite the uncertainty surrounding public sector spending the board believes the key markets of healthcare and education still hold relatively resilient long term prospects and we also continue to pursue our activities
