Results Special

Many figures in

The results came in thick and fast this month, with many recruitment companies reporting an upsurge in activity in the first half of the year.

Overall, the trend was positive, with companies reporting an increase

in turnover and sales.

But there are questions over how long the job market will maintain its strength. Government figures have revealed that unemployment is increasing, with more people (866,000) out of work and claiming benefits. However, recruiters were bullish about short-term prospects for the second half of the year.

Staffline Recruitment Group posted a promising set of results for the first half of the year.

The Nottingham-based group saw turnover rise by 19% to £26.4m compared with 2004, and has recorded a pre-tax profit rise of 40% to £694,000.

The group’s main business is “blue collar” temporary and contract staff to industry through its network of 17 branches and OnSite locations, managed from within customer premises.

Staffline opened a new industrial branch in Wolverhampton, while there are now 50 OnSite locations nationwide, an increase of 15 since the turn of the year.

Though the firm’s costs in becoming a plc reduced earnings per share to 2.3p and produced a modest dividend of 0.7p per share, managing director Andy Hogarth (pictured) was pleased with the overall results.

“We are confident that the group will continue to make good progress for the rest of the financial year, with contributions from the 15 new OnSite wins driving incremental growth in the second half and thereafter, and our expectations for the year remain unchanged,” he said.

Robert Walters has reported an increase in sales and profitability in half-year results published this month. Pre-tax profits jumped 63% from £3m to £4.9m and overall revenue rose from £82m to £106m.

Sales increased in all of the company’s main areas: the UK, continental Europe, Asia-Pacific and the US.

Staff numbers have increased from 863 to 1,050, and the company has expanded its offices to accommodate future growth.

“This was an excellent first half, reflecting significant revenue increases across all our territories,” said chief executive Robert Walters.

“We handled growing levels of both permanent and temporary staff and have increased our own staff numbers. The second half has started well and we look forward to a strong outcome for the year as a whole.”

Turnover jumped to £22m for the Imprint group of search and selection companies during the first six months of 2005 in a healthy set of results announced on 7 September. The six-month turnover figures reflected an increase of more than £18m from the same period last year.

Imprint chief executive officer Brian Hamill said he was “very, very happy” with the results, which revealed pre-tax profits up 255% to £1.9m from £0.5m in 2004 and net fee income rising to £14.4m from £3.3m in 2004. On 30 June, Imprint had £2.1m cash on hand and no bank debt.

The group’s intangible assets skyrocketed from nothing to more than £29m for the last six months, reflecting the recent acquisitions of ECHM Group for £9.6m and Morgan McKinley Group for £24.8m. Restructuring costs stemming from the acquisitions and the realignment of the group's management and offices amounted to £761,000.

Earnings per share in the latest six-month period, as adjusted for exceptional items, goodwill amortisation and a notional tax charge was 7.5p, compared with 1.9p last year.

Top