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Strong growth for recruiter

Search Group CEO hails ‘best ever results’

Grahame CaswellRecruitment firm Search Consultancy Group has reported its highest ever turnover, strongest net fee income and best ever underlying profit.

In the year to 3 January EBITDA rose 18.4% to £7.7 million, a fifth consecutive year of growth, on an 11% increase in turnover to £173.6m. Net fee income came in 8.6% higher at £41.8m 

The recruiter’s contractor base peaked at 7,400 workers – a rise of 9.6% – and it put 8,250 candidates into jobs, up 3.7%.

Chief executive Grahame Caswell said the board was satisfied with the mix of business between contract and permanent placements.

He said: “The results are the best in the group’s history. Our net fee income and underlying EBITDA growth was driven by an expanding workforce of fee earners as the group continued to invest in people to secure future growth.  Our five year track record of EBITDA growth demonstrates the success of our business model.

“The contract business continues to provide a high quality revenue stream arising from repeat business with a blue chip customer base, while our permanent business has delivered three year compound annual growth of 12%.

“Search’s people remain the key to its success – our service is only as good as our people, whose passion to deliver exceptional recruitment services to both candidates and clients lies at the heart of our business.”

Search employs about 700 staff serving markets in England and Scotland from its 13 city centre locations.

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