Recruitment group Hydrogen looks to Germany and infrastructure - but not yet
9 July 2013
The finance director of recruitment group Hydrogen tells Recruiter that the German market and the infrastructure sector are next on its hit list – but the firm is not ready to pull the trigger just yet.
Tue, 9 Jul 2013The finance director of recruitment group Hydrogen tells Recruiter that the German market and the infrastructure sector are next on its hit list – but the firm is not ready to pull the trigger just yet.
Glover was speaking to Recruiter this morning as the firm issued a trading update for the six months to 30 June, saying it expected net fee income (NFI) “to be marginally ahead of the same period last year, despite continuing uncertainty in recruitment markets”, reporting that “good progress was made during the period on delivery of the group’s strategic objectives of diversification in geographies and market sectors”.
The half-year period saw the firm open offices in Houston in the US, the group’s first in that country, and Stavanger in Norway. The Houston office is described by Glover as a “hub office” in the same vein as the firm’s Singapore regional hub. “That’s going to take a while to develop it to the right size,” he says.
“I don’t think we’ll see any more office openings in 2013,” Glover says, although mentions Germany as a major geography the firm is targeting, adding: “At some point in time I think we will go on the ground there.”
And he says the “massive” infrastructure market is probably “the only one [sector]” the group does not currently cover which it is looking at in terms of potential for future expansion.
Currently, Glover says the life sciences and oil & gas markets are the firm’s strongest. “We’re still in very tightly-defined niches in both of the markets so we can continue to grow,” he comments.
Glover also says that business in UK is broadly “flat”, adding that there have been “some signs of life, but very late in the half, in finance”.
The group is “on target to increase both its global reach and NFI for the year to 31 December 2013”, according to chair Ian Temple.
Glover was speaking to Recruiter this morning as the firm issued a trading update for the six months to 30 June, saying it expected net fee income (NFI) “to be marginally ahead of the same period last year, despite continuing uncertainty in recruitment markets”, reporting that “good progress was made during the period on delivery of the group’s strategic objectives of diversification in geographies and market sectors”.
The half-year period saw the firm open offices in Houston in the US, the group’s first in that country, and Stavanger in Norway. The Houston office is described by Glover as a “hub office” in the same vein as the firm’s Singapore regional hub. “That’s going to take a while to develop it to the right size,” he says.
“I don’t think we’ll see any more office openings in 2013,” Glover says, although mentions Germany as a major geography the firm is targeting, adding: “At some point in time I think we will go on the ground there.”
And he says the “massive” infrastructure market is probably “the only one [sector]” the group does not currently cover which it is looking at in terms of potential for future expansion.
Currently, Glover says the life sciences and oil & gas markets are the firm’s strongest. “We’re still in very tightly-defined niches in both of the markets so we can continue to grow,” he comments.
Glover also says that business in UK is broadly “flat”, adding that there have been “some signs of life, but very late in the half, in finance”.
The group is “on target to increase both its global reach and NFI for the year to 31 December 2013”, according to chair Ian Temple.
Other UK recruitment firms opening in Germany this year:
