FINANCIALS: RTC Group’s profits up 55%
19 March 2014
Recruitment services company RTC Group increased profits before tax by 55% in 2013 on the back of revenue 14% higher at £49m.
Wed, 19 Mar 2014Recruitment services company RTC Group increased profits before tax by 55% in 2013 on the back of revenue 14% higher at £49m.
The group recorded profits before tax of £736k in the 12 months ended 31 December 2013 compared to £474k in the previous 12 months, according to audited results released today.
All three of the group’s recruitment saw revenue growth:
- ATA Recruitment saw revenue 16% higher in the last quarter of 2013 than in the same quarter of 2012
- ATA global Staffing Solutions increased its overseas revenue by £1.0m
- Ganymede Solutions, the group’s blue collar division, increased its revenue by 44%, mainly as a result of higher volumes from existing customers.
Bill Douie, chairman, says: "Our subsidiary companies have all made positive contributions and established solid competitive positions in their respective markets, marking another year of growth across all our recruitment markets.
“Contributing to our success is undoubtedly the growth in Ganymede and our increasing international capability. Although there is still work to be done in the regional branch network in ATA Recruitment in the UK to re-establish our stronghold in the SME market, we expect to complete that in 2014 and to drive for further growth in all three core businesses.”
Financial highlights
The group recorded profits before tax of £736k in the 12 months ended 31 December 2013 compared to £474k in the previous 12 months, according to audited results released today.
All three of the group’s recruitment saw revenue growth:
- ATA Recruitment saw revenue 16% higher in the last quarter of 2013 than in the same quarter of 2012
- ATA global Staffing Solutions increased its overseas revenue by £1.0m
- Ganymede Solutions, the group’s blue collar division, increased its revenue by 44%, mainly as a result of higher volumes from existing customers.
Bill Douie, chairman, says: "Our subsidiary companies have all made positive contributions and established solid competitive positions in their respective markets, marking another year of growth across all our recruitment markets.
“Contributing to our success is undoubtedly the growth in Ganymede and our increasing international capability. Although there is still work to be done in the regional branch network in ATA Recruitment in the UK to re-establish our stronghold in the SME market, we expect to complete that in 2014 and to drive for further growth in all three core businesses.”
Financial highlights
- Group revenue up 14% to £49m (2012: £43.m)
- Group operating profit £871,000 (2012: £592,000)
- Profit before tax up 55% to £736,000 (2012: £474,000)
- Gross margin was 11.3% (2012: 12.2%) reflecting the temporary impact of the restructuring in ATA Recruitment. Gross margin is budgeted to improve in 2014.
