Healthcare recruiter Pinnnacle Staffing Group has encountered ‘more challenging conditions’ in its full year results for the year ended 3 January.

The group’s results reveal:

• Revenue of £40.2m (2008: £38.1m)
• The group’s core nursing division including key brand, BNA, recorded revenue with sales for the year of £31.4m (2008: £31.5m)
• The medical services division saw substantial falls in revenue to £3.7m (2008: £6.6m) while its new doctors division saw substantial growth with revenues of £5.1m (2008: £nil)
• Overall gross profit of £8.3m (2008: £7.3m)
• Net borrowing of £2.1m (2008: £2.2m). 

David Hope, chief operating officer and finance director of Pinnacle, says: “The changes that we have made to the business, combined with revised pricing  on the new NHS frameworks for nursing, have enabled us to develop further our relationships with NHS organisations.

“Despite a disappointing final quarter to the year, caused in part by the severe weather in December, the level of NHS interest in using quality staff from BNA has been exceptional. The challenge for the business in 2010 will be to use its resources effectively to capitalise on these growth opportunities.”