FINANCIALS: SThree, Morgan Hunt and Rethink Group results
15 July 2013
International staffing group SThree, multi-sector recruiter Morgan Hunt and AIM-listed recruiter The Rethink Group have all announced results.
Mon, 15 July 2013International staffing group SThree, multi-sector recruiter Morgan Hunt and AIM-listed recruiter The Rethink Group have all announced results.
SThree
International staffing group SThree grew its revenue by 4.8% in the six months ending 26 May compared with the same period in 2012. Revenues rose to £291.9m from £278.4m. Profit before taxation fell by 28.3% to £6.7m.
The firm’s strategy of focusing on contract, international and newer sectors was reflected in its figures. Contract now represents 54% of net fee income (NFI) compared with 49% in 2012, while non-UK and Ireland makes up 68% (2012: 65%). Similarly, pharmaceuticals & biotechnology and energy & engineering now makes up 36% of NFI against 32% in 2012.
Gary Elden, SThree’s chief executive officer, says: "Our balanced business mix between contract and permanent, continued drive to improve productivity and tight focus on growing teams only in selective sectors/geographies, together with the savings expected from the restructuring programme, give us confidence that we will make the best of the market opportunity in the second half, while managing the business prudently for the medium term.”
Morgan Hunt
Multi-sector recruiter Morgan Hunt saw turnover grow by 9% in the year to 31 March 2013, but still made a loss for the financial year, according to its results posted to Companies House.
Turnover reached £67.9m, up from £62.5m last year, while NFI increased 4% to £14.6m. Most of the turnover was generated in the UK, but the firm’s Russian operation accounted for £1.3m.
The company records an operating profit before exceptionals, goodwill amortisation and impairment of £1.9m, up strongly from £1.4m last year.
However, bottom line profit last year of £1.3m turned into a loss of £1.8m this year. The most notable change year-on-year was that the firm only received £8.7k in interest, compared with £4.5m in 2012.
Morgan Hunt was ranked 79th in the 2012 Recruiter HOT 100, sponsored by Microdec, ranking the UK recruitment firms with the greatest gross profit per employee.
The Rethink Group
Meanwhile, AIM-listed recruitment, talent management and technology services company, The Rethink Group, says the first half of 2013 has been “a period of notable improvement with strong operational achievements and a return to profitability”. In a trading update, it says trading is ahead of the previous six months, and that it expects to report NFI growth in its core recruitment business of around 7%, driven by a strong performance in contract NFI.
Steve Wright, CEO of Rethink, says: "We are pleased to return to profitability following the difficulties experienced in the second half of 2012.”
SThree
International staffing group SThree grew its revenue by 4.8% in the six months ending 26 May compared with the same period in 2012. Revenues rose to £291.9m from £278.4m. Profit before taxation fell by 28.3% to £6.7m.
The firm’s strategy of focusing on contract, international and newer sectors was reflected in its figures. Contract now represents 54% of net fee income (NFI) compared with 49% in 2012, while non-UK and Ireland makes up 68% (2012: 65%). Similarly, pharmaceuticals & biotechnology and energy & engineering now makes up 36% of NFI against 32% in 2012.
Gary Elden, SThree’s chief executive officer, says: "Our balanced business mix between contract and permanent, continued drive to improve productivity and tight focus on growing teams only in selective sectors/geographies, together with the savings expected from the restructuring programme, give us confidence that we will make the best of the market opportunity in the second half, while managing the business prudently for the medium term.”
Morgan Hunt
Multi-sector recruiter Morgan Hunt saw turnover grow by 9% in the year to 31 March 2013, but still made a loss for the financial year, according to its results posted to Companies House.
Turnover reached £67.9m, up from £62.5m last year, while NFI increased 4% to £14.6m. Most of the turnover was generated in the UK, but the firm’s Russian operation accounted for £1.3m.
The company records an operating profit before exceptionals, goodwill amortisation and impairment of £1.9m, up strongly from £1.4m last year.
However, bottom line profit last year of £1.3m turned into a loss of £1.8m this year. The most notable change year-on-year was that the firm only received £8.7k in interest, compared with £4.5m in 2012.
Morgan Hunt was ranked 79th in the 2012 Recruiter HOT 100, sponsored by Microdec, ranking the UK recruitment firms with the greatest gross profit per employee.
The Rethink Group
Meanwhile, AIM-listed recruitment, talent management and technology services company, The Rethink Group, says the first half of 2013 has been “a period of notable improvement with strong operational achievements and a return to profitability”. In a trading update, it says trading is ahead of the previous six months, and that it expects to report NFI growth in its core recruitment business of around 7%, driven by a strong performance in contract NFI.
Steve Wright, CEO of Rethink, says: "We are pleased to return to profitability following the difficulties experienced in the second half of 2012.”
