FINANCIALS: Impellam’s restructuring on course
26 July 2012
Impellam Group’s brand re-alignment is on course to be completed by the end of the financial year, according to chairman Cheryl Jones, as the international staffing company announced it interim results for the first half of 2012.
Thu, 26 Jul 2012
Impellam Group’s brand re-alignment is on course to be completed by the end of the financial year, according to chairman Cheryl Jones, as the international staffing company announced it interim results for the first half of 2012.
Part of the re-alignment involves the recent creation of Tegrus Medical & Government Services made up of Medacs Healthcare, Comensura and Celsian Education. This will allow synergies across the sector, improve speed-to-market and leverage growth opportunities, says Jones.This follows the creation of Impellam Technical Solutions, comprised of S.Com, SRG and ABC, focusing on science, engineering and technical. This division increased revenue by just under 1% to £96.6m during the period.
Over the six months to 29 June 2012, group revenue rose by 7.6% to £590.9m (2011: £549.4m) which “exceeded plan” says Jones, while EBITDA (Earnings before interest, tax, depreciation and amortisation) remained flat at £20.8m (2011: £21.5m) in line with expectations.
Adjusted operating profit remained flat at £15.8m (2011: £16.2m)
Within the overall figures, Impellam’s UK business out-performed the rest of the group in terms of revenue, with income up 14% to £258.8m.
Impellam’s main UK brands are Blue Arrow (industrial and generalist), Tate (office and commercial), Austin Benn (sales/marketing and financial) Chadwick Nott (legal) and Hewitson Walker (accountancy, financial and procurement). It also provides recruitment process outsourcing services through Carlisle Managed Solutions.
Impellam’s North American business, which includes Corestaff and Guidant increased revenue by 6.1% to £87.6m, with gross profit up 1% to £17.6m, and operating profit rising to £2m.
During the period, Impellam purchased 572,193 of its own shares at a cost of £2m, bringing to 932,693 the number purchased since it began this strategy. After cancelling these shares, the company says this has provided shareholders with an approximate 2% increase in earnings per share.
Impellam Group’s brand re-alignment is on course to be completed by the end of the financial year, according to chairman Cheryl Jones, as the international staffing company announced it interim results for the first half of 2012.
Part of the re-alignment involves the recent creation of Tegrus Medical & Government Services made up of Medacs Healthcare, Comensura and Celsian Education. This will allow synergies across the sector, improve speed-to-market and leverage growth opportunities, says Jones.This follows the creation of Impellam Technical Solutions, comprised of S.Com, SRG and ABC, focusing on science, engineering and technical. This division increased revenue by just under 1% to £96.6m during the period.
Over the six months to 29 June 2012, group revenue rose by 7.6% to £590.9m (2011: £549.4m) which “exceeded plan” says Jones, while EBITDA (Earnings before interest, tax, depreciation and amortisation) remained flat at £20.8m (2011: £21.5m) in line with expectations.
Adjusted operating profit remained flat at £15.8m (2011: £16.2m)
Within the overall figures, Impellam’s UK business out-performed the rest of the group in terms of revenue, with income up 14% to £258.8m.
Impellam’s main UK brands are Blue Arrow (industrial and generalist), Tate (office and commercial), Austin Benn (sales/marketing and financial) Chadwick Nott (legal) and Hewitson Walker (accountancy, financial and procurement). It also provides recruitment process outsourcing services through Carlisle Managed Solutions.
Impellam’s North American business, which includes Corestaff and Guidant increased revenue by 6.1% to £87.6m, with gross profit up 1% to £17.6m, and operating profit rising to £2m.
During the period, Impellam purchased 572,193 of its own shares at a cost of £2m, bringing to 932,693 the number purchased since it began this strategy. After cancelling these shares, the company says this has provided shareholders with an approximate 2% increase in earnings per share.
