Employers more confident of hiring
Political stability helps Search locate record results
Lifting uncertainty around Scottish independence and the General election has given clients greater confidence to hire staff, said chief executive Grahame Caswell.
He believes permanent recruitment in particular will continue to thrive. Search has benefited from this and “strategic development” of the company.
“Market conditions for the permanent businesses are favourable,” he said. “With uncertainty relating to the 2015 UK general election and the 2014 Scottish independence referendum now a thing of the past, clients and candidates are, respectively, able to recruit and take on new employment opportunities with confidence.”
The company turned a £600,000 pre-tax loss into a £2.3 million profit for the year to 4 January 2015. Underlying EBITDA rose 30% from £4.8m to £6.5m.
Net fee income rose 18% growth from £32.5 million to £38.5m, placing Search in the highest ranking of the UK recruitment market.
The permanent recruitment market was particularly strong, with the value of placements growing 27% from £12.8m to £16.2m, involving 8,214 jobs.
Search, which was established in Glasgow in 1987, employs 642 staff serving Scotland and England, from its 13 bases.