Matchtech Group reports a 24.8% increase in profit before tax
14 October 2014
Matchtech Group has reported that its adjusted profit before tax for the financial year 2014 reached £12.6m – a 24.8% increase year-on-year.
Tue, 14 October 2014 | By Nicola SullivanMatchtech Group has reported that its adjusted profit before tax for the financial year 2014 reached £12.6m – a 24.8% increase year-on-year.
A financial statement from the engineering recruitment firm also reported a 17.2% increase in net fee income to £45m, compared to a 12.5% increase the previous financial year. The increase was attributed to improved contract margins and a strong demand for skilled engineers.
Tony Dyer, finance director at Matchtech, told Recruiter that the skills shortage is so “acute” that tracking down “hard to find” candidates can’t be done at a “commodity” pricing level.
According to its financial results, Matchtech expects growth to slow slightly during 2015 and has forecasted a 5.6% increase in NFI. It hopes to ‘upgrade’ this ‘conservative’ figure as the year progresses.
Dyer said: “We are not back to 2008 growth levels yet.” He added: “There is going to be a slow and steady growth post recession, but I don’t think it’s going to be in a straight line.”
Dyer also said the temporary side of the business is doing better than the permanent side because the “candidate is now king” with multiple job offers and incumbent employers are “throwing cash” at highly valued staff.
A financial statement from the engineering recruitment firm also reported a 17.2% increase in net fee income to £45m, compared to a 12.5% increase the previous financial year. The increase was attributed to improved contract margins and a strong demand for skilled engineers.
Tony Dyer, finance director at Matchtech, told Recruiter that the skills shortage is so “acute” that tracking down “hard to find” candidates can’t be done at a “commodity” pricing level.
According to its financial results, Matchtech expects growth to slow slightly during 2015 and has forecasted a 5.6% increase in NFI. It hopes to ‘upgrade’ this ‘conservative’ figure as the year progresses.
Dyer said: “We are not back to 2008 growth levels yet.” He added: “There is going to be a slow and steady growth post recession, but I don’t think it’s going to be in a straight line.”
Dyer also said the temporary side of the business is doing better than the permanent side because the “candidate is now king” with multiple job offers and incumbent employers are “throwing cash” at highly valued staff.
