FINANCIALS: Korn Ferry and Parity expand
5 December 2013
Executive recruiter Korn Ferry and IT recruiter and tech services provider Parity Group have seen their businesses expand, trading statements show.
Thu, 5 Dec 2013Executive recruiter Korn Ferry and IT recruiter and tech services provider Parity Group have seen their businesses expand, trading statements show.
Korn Ferry
The company saw fee revenues increase a currency-adjusted 23% year-on-year in the three months to the end of October, reaching $238m (£145.5m). Excluding acquisitions, this was a more modest 8%.
The small South America division saw the strongest revenues rise, although Asia-Pacific has maintained more consistent growth across the year.
The company’s total adjusted operating income for the quarter was $25.2m, up from $18.3m in the same period in 2012.
The firm’s chief executive officer Gary D Burnison says this is “the strongest top line results in the company’s history”. The full financial report is online.
Parity
The company says overall profitability “has continued to improve” through the year, which has seen expansion in the number of IT contractors Parity Resources supplies.
Parity's trading statement, available online, comes ahead of the financial year end on 31 December, for which it expects to announce adjusted earnings before interest, tax, deductions and amortisation of over £2.5m, which would be 80% higher than in 2012.
The company has been undertaking a restructuring plan to split into two separate divisions – Parity Professionals and Parity Digital, which will be reported separately in the annual results.
Parity Professionals consists predominately of IT staff agency Parity Resources, which now has 950 contractors.
The period also saw the company make a number of changes to its board, announced at the end of September.
Korn Ferry
The company saw fee revenues increase a currency-adjusted 23% year-on-year in the three months to the end of October, reaching $238m (£145.5m). Excluding acquisitions, this was a more modest 8%.
The small South America division saw the strongest revenues rise, although Asia-Pacific has maintained more consistent growth across the year.
The company’s total adjusted operating income for the quarter was $25.2m, up from $18.3m in the same period in 2012.
The firm’s chief executive officer Gary D Burnison says this is “the strongest top line results in the company’s history”. The full financial report is online.
Parity
The company says overall profitability “has continued to improve” through the year, which has seen expansion in the number of IT contractors Parity Resources supplies.
Parity's trading statement, available online, comes ahead of the financial year end on 31 December, for which it expects to announce adjusted earnings before interest, tax, deductions and amortisation of over £2.5m, which would be 80% higher than in 2012.
The company has been undertaking a restructuring plan to split into two separate divisions – Parity Professionals and Parity Digital, which will be reported separately in the annual results.
Parity Professionals consists predominately of IT staff agency Parity Resources, which now has 950 contractors.
The period also saw the company make a number of changes to its board, announced at the end of September.
