The Impellam Group, a provider of staffing solutions and outsourced people-related services, has seen a decline in turnover in its preliminary results for the year ended 31 December 2009.

Its results reveal:

• Total turnover fell 2.4% to £1,044.2m (December 2008: £1,070m)
• Turnover from permanent placement declined by 42.8% to £17.5m (December 2008: £30.6m)
• Total gross profit was down 10% to £170.2m (December 2008: £189.6m)
• Gross profit from permanent placement fees also fell by 43.6% to £15.8m (December 2008: £28m)
  
  

(The results set against December 2008 are on a pro forma basis to give a more meaningful comparison due to the May 2008 merger of The Corporate Services Group and Carlisle Group.)

The group has managed to cut operating costs by 15% to £151m (December 2008: £177.7m) but  debtor days increased to 39.2 days (December 2008: 38.3 days).

Cheryl Jones, chairman, says: “Despite difficult economic conditions, the group retained top-line performance, and efficiency initiatives were in line with the significant reductions the market experienced relative to the permanent placement sector and the general downturn in the temporary staffing sector.”