Annual GP from continuing operations is expected to be around £205m, up 27.3% over the previous year period.

The Luton-based group also revealed this week that it has completed the sale of its regional staffing businesses in the UK (Tate, Blue Arrow Group, Chadwick Nott, Career Teachers) along with Medacs Global Group, its healthcare staffing business in the UK, Ireland and APAC, to Twenty20 Capital. 

The latter is a European specialist investment fund focused on the human capital sector. Twenty20 key players Tristan Ramus, Ian Munro and Katie Folwell-Davies are well-known as leading M&A experts within the recruitment industry.

The transaction was executed for a cash consideration of £85m on a debt-free, cash-free, normalised working capital basis. Impellam entered into an agreement for the sale in January this year.

The group expects to release its results for the financial year ended 31 December 2022 at the end of March.

Impellam also confirmed this week its intention to re-launch the payment of annual dividends of £25m in January 2024, subject to trading performance, representing an 8.1% forward yield on closing share price on 3 March. Impellam said that along with two special dividends in 2022, the confirmation of the further dividend after the completion of the disposal would bring the total of special dividends to £1.87 per share.

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