REC surplus down as relocation pushes up costs
17 June 2013
The Recruitment & Employment Confederation (REC) made a surplus of £54k in 2012 compared with £317k in 2011, according to its annual accounts.
Mon, 17 Jun 2013The Recruitment & Employment Confederation (REC) made a surplus of £54k in 2012 compared with £317k in 2011, according to its annual accounts.
Turnover was down slightly at £6.13m compared with £6.15m in the previous year.
Administrative expenses were up from £4.55m to £4.62m. Chief executive officer Kevin Green told last week's AGM that these higher costs were incurred as a result of the REC moving to its new offices during 2012.
Green said that corporate membership numbers fell from 3,766 to 3,506, but that this should be seen against a backdrop of continuing industry consolidation, with the number of staffing businesses falling by 14% between 2009 and 2011.
He added that the REC had increased its market share by volume to 79.5%.
Revenue from training and qualifications now represented only 14% of the REC’s income against nearly 29% six years previously, said Green.
Turnover was down slightly at £6.13m compared with £6.15m in the previous year.
Administrative expenses were up from £4.55m to £4.62m. Chief executive officer Kevin Green told last week's AGM that these higher costs were incurred as a result of the REC moving to its new offices during 2012.
Green said that corporate membership numbers fell from 3,766 to 3,506, but that this should be seen against a backdrop of continuing industry consolidation, with the number of staffing businesses falling by 14% between 2009 and 2011.
He added that the REC had increased its market share by volume to 79.5%.
Revenue from training and qualifications now represented only 14% of the REC’s income against nearly 29% six years previously, said Green.
