FINANCIALS: Impellam Group sees revenue rise

International specialist staffing business Impellam Group has seen group revenue climb 20.4% year-on-year, according to unaudited final results for the year ended 31 December 2016.

The results, published this morning, reveal group revenue jumped 20.4% to £2,140.2m from £1,777.3m in 2015, while gross profit rose increased 23.5% to £288.6m from £233.7m over the same period. 

The group adds this increase in GP was helped by increased collaboration across all its brands, while the group also made “significant” progress in expanding its operations across the US, Australia and the Middle East in a year its managed services businesses across the UK, US and Australia continued to perform well.

Meanwhile, the group’s integration of 2015 acquisitions of contingent workforce management provider Bartech and healthcare staffing specialist Global Medics delivered synergy savings of £2.1m.

Commenting on the results, Impellam chairman Lord Ashcroft pointed to an important year of growth and a “solid” performance.

“Despite a backdrop of challenging market conditions and uncertain political times, Impellam Group has delivered 20.4% increase in revenue growth. Some of our markets have continued to feel the pressure, especially healthcare and education. Many continue to face a shortage of candidates as skills gaps increase around the world.
 
“However, our focused strategy and diverse portfolio of managed services and specialist staffing businesses have enabled us to maintain growth, trade in-line with expectations and make good progress against our strategic plan. Most significantly, 2016 saw Bartech's first full year of operation within the group. This acquisition, along with our growth in Australasia, has continued to diversify our revenue streams and create further opportunities for the future.”

CEO Julia Robertson added: “To me, 'a good year' can only be one that has satisfied our investors, our customers, our employees and our candidates.

“I believe we achieved this in 2016. We delivered on our promises to investors, not just through strong financial and cash performance, but through strategic moves that have transformed our business globally.”

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