Multi-sector recruiter Impellam Group has recorded a “strong” set of results with turnover up 6.6% for the year ended 31 December 2010, according to chairman Cheryl Jones.

The group’s results reveal: 

• Turnover increased 6.6% to £1,113.6m (2009: £1,044.2m)

• Fees from permanent placements increased 18.4% to £18.7m (2009: £15.8m)

• Conversion of gross profit into operating profit improved to 16.8% (2009: 6.0%)

• Operating profit £30.7m (2009: £10m)

• Cash generation from operating activities increased to £57.5m (2009: £1.3m)

• Net debt decreased by £51.8m to £17.8m as at 31 December 2010

Jones says: “I am extremely pleased to announce that Impellam has produced a strong set of results during the first full year of trading under the company’s defined strategic initiatives.

“Key components of the group’s strategic focus for 2010 included end-to-end operating efficiency initiatives, further brand rationalisation, controlled growth strategies and service innovation development for each selected market. As these initiatives developed, their alignment to the overall productivity and efficiency of the business resulted in improved profit and effective cash flow generation. 

“Impellam is now well-positioned to take advantage of market opportunities and improving economic conditions.”