FINANCIALS: Chunky growth as Fircroft profit nears £50m
6 June 2013
Engineering and technical recruiter Fircroft saw gross profit rise 29.9% year-on-year to £49.02m in the 12 months to 31 August 2012, as turnover increased by 31.6% to £725.4m.
Thu, 6 Jun 2013Engineering and technical recruiter Fircroft saw gross profit rise 29.9% year-on-year to £49.02m in the 12 months to 31 August 2012, as turnover increased by 31.6% to £725.4m.
Profit before taxation was £13.8m, up from £11.09m, a rise of 24.4%, although it would have been £16.2m had it not been for a one-off settlement on a hedge fund arrangement, according to the firm’s results, filed in Companies House.
Turnover in Australasia, accounting for a third of the business, rose by 37%, the report shows, ahead of the 29% growth in the UK market, which makes up around three-fifths of the group. The small Rest of the World section also grew.
Towards the end of the financial period in question, Fircroft received a boost in the form of a £140m investment from private equity firm Equistone Partners Europe.
Fircroft’s solid growth is demonstrated by its listings on Recruiter's FAST 50 2013 and HOT 100 2012 league tables. Its founder John Johnson, worth £100m, is the 777th richest person in the UK, and recruitment's fourth richest man.
Profit before taxation was £13.8m, up from £11.09m, a rise of 24.4%, although it would have been £16.2m had it not been for a one-off settlement on a hedge fund arrangement, according to the firm’s results, filed in Companies House.
Turnover in Australasia, accounting for a third of the business, rose by 37%, the report shows, ahead of the 29% growth in the UK market, which makes up around three-fifths of the group. The small Rest of the World section also grew.
Towards the end of the financial period in question, Fircroft received a boost in the form of a £140m investment from private equity firm Equistone Partners Europe.
- See p12 and p14 of next week’s June issue of Recruiter for more on why private equity firms are taking an interest in oil & gas industry recruiters.
Fircroft’s solid growth is demonstrated by its listings on Recruiter's FAST 50 2013 and HOT 100 2012 league tables. Its founder John Johnson, worth £100m, is the 777th richest person in the UK, and recruitment's fourth richest man.
