FINANCIALS: NES Global Talent posts impressive rise in earnings

Tech and engineering recruiter NES Global Talent has seen earnings increase 29% year-on-year, according to results for the year to 31 October 2018.

The results, released this week, reveal earnings before interest, tax, depreciation and amortisation of $57.6m (£42.9m), with turnover up from $900m to more than $1.1bn and net fee income of $144.3m, up from $113.1m.

The year saw the group open in new locations to operate in 58 offices across 33 different countries, acquire life science specialist Redbock and onshore oil & gas specialist Bedrock Petroleum Consultants, and further strengthen its balance sheet with two fundraisings providing $275m, which will be used to finance investments in growth and acquisitions.

Stephen Buckley, group CFO at NES Global Talent, said: “These numbers are testament to the fact that NES has the best structure and strong management in place to extract optimum performance from our most important asset, which is our people. 

“We invested significantly in our people and global systems in 2018, with average staff numbers increasing by 115 to 725 and capital expenditure totalling $3m. We will continue to grow and invest in our people, processes and systems to build a stronger and more diversified global company.”

Tig Gilliam, CEO of NES Global Talent, added: “Already, the 2019 financial year has started strongly for the group, with further growth ahead of plan in all business regions.”

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