The international recruiter has seen revenue rise 42% year-on-year, according to Q2 2018 results. The results, released this morning, reveal revenue of $59.7m (£46.9m), with gross profit up 50% to $11.9m and gross margin of 19.9%.

However, the group posted a net loss of $1.8m compared to a net loss of $0.4m reported for Q2 2017 driven mainly by higher acquisition, capital raising and non-cash expenses, as well as a legal expense settlement income of $600k in Q2 2017.

Commenting on the results, Flood pointed to another quarter of record revenue that had validated the group’s strategy: “We experienced an increase in the number of temporary contractors deployed and higher number of temporary contractor hours billed; while at the same time saw strength in the permanent placement business.”

Flood continued: “Additionally, we divested PeopleServe after concluding that it was no longer strategic to our growth plans and we completed the acquisition of Clement May in the UK, which provides another service offering by entering into the RPO [recruitment process outsourcing] market. We’re already seeing the benefits of this in discussions with our existing clients.”

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