Eurostaff Group Ltd. (now Staffgroup Ltd.) delivers exceptional year of performance
Impressive rise in Net Fee Income (NFI) and turnover signify exciting stage of development for provider of specialist recruitment solutions
London, 23th May 2012 – Staffgroup, the parent company of Eurostaff Group Ltd. and Earthstaff Ltd., providers of specialist recruitment solutions to the Technology, Finance and Energy industries internationally, has published its latest set of financial results. An operational realignment means the results are for the nine-month accounting period 31st March 2011 to 31st December 2011 and include the performance of the energy practice now known as Earthstaff Ltd.
The results reveal that Eurostaff Group Ltd. delivered exceptional performance in 2011, with turnover increasing by 13 per cent from £17.4m on 31stMarch 2011 to £19.6m on 31stDecember 2011. At this point, Net Fee Income (NFI) stood at £5.6m, representing an impressive 33 per cent rise year-on-year, when including management figures for the period 1stJanuary to 31stMarch 2012. UK turnover rose from £3.2m to £4.5m, an increase of 40 per cent (or 86 per cent when increased pro rata to 12 months), with European revenues up to £14.3m, a nine per cent increase over the shorter accounting period (a 45 per cent increase pro rata). Profits also continue to rise year-on-year with a seven per cent increase posted for this period.
“These are truly impressive results in light of what has been an extremely difficult time for both the recruitment industry and the global economy,” commented Mark Znowski, Founder and Managing Director, Staffgroup. “By maintaining our focus on our specialist sectors, key geographies, and investing in the development of our people we have been able to sustain our growth and deliver a financial performance at an exceptionally high level. We aim to continue with this strategy throughout 2012 and 2013, with further expansion in our existing markets both in terms of staff numbers and specialist areas. The imminent launch of our office in Germany marks a significant phase of this strategy and we plan to launch Staffgroup’s Eurostaff Technology and Earthstaff brands in the future.”
Eurostaff Group’s staff numbers increased by 33 per cent period-on-period, with NFI per employee currently standing at £177,577. The split between contract and permanent placements has remained consistent with that of previous years, contributing 61 per cent and 39 per cent respectively for the year ended 31stDecember 2011. Maintaining this healthy ratio remains a key objective for the Group.
The investment made previously by Eurostaff Group in their energy practice (now Earthstaff Ltd.) for the year ending 31stMarch 2011 yielded much success, driving an 88 per cent increase in sales in the shorter 9-month period ended 31stDecember 2011 and saw headcount grow by 31 per cent.
Moving forward, annual accounts will be reported on a 12-month basis (1stJanuary to 31stDecember) and published individually for each of Staffgroup’s three distinct business divisions – Eurostaff Group Ltd.; Eurostaff Group GmbH and Earthstaff Ltd. These entities were established in February 2012 when the company rebranded to reflect sustained growth and Staffgroup’s long-term ambition to become true market leaders in its key sectors.
“With considerable further investment in the staffing of all of our brands, we anticipate an even continued increase in sales during the next review period,” continues Znowski. “Meanwhile, we will continue to explore new markets internationally, as well as invest in our people, giving clear opportunities for succession and professional and personal development.”
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About Staffgroup
Staffgroup is the holding company of privately owned businesses; Eurostaff and Earthstaff, who provide specialist recruitment solutions to the Technology, Finance and Energy industries internationally. Founded in 2003 with the vision to provide exceptional recruitment solutions to candidates and clients by adding value through unique and actionable insight from our employees – all Staffgroup companies aim to be the recruitment experts that everybody knows. For more information about Staffgroup, please visit www.eurostaffgroup.com or www.earthstaff.com
About Eurostaff
Eurostaff is part of Staffgroup, a collection of privately owned specialist recruitment businesses. Since 2003 Eurostaff has built an outstanding reputation for providing exceptional recruitment solutions to candidates and clients in the Finance and Technology sectors throughout the UK, Europe and internationally. With a focus on engagement, actionable insight and results, Eurostaff aims to be the recruitment experts that everybody knows. For more information on Eurostaff, please visit www.eurostaffgroup.com
About Earthstaff
Earthstaff is part of Staffgroup, a collection of privately owned specialist recruitment businesses. The Earthstaff brand was created in 2012 after previously operating under the Eurostaff name and continues to experience huge growth and coverage. Specialising in the recruitment of professionals across the energy sector (Oil & Gas, Minerals and Wind) throughout the world, Earthstaff focuses on engagement, actionable insight and results, aiming to be the recruitment experts that everybody knows. For more information about Earthstaff, please visit www.earthstaff.com
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Kate Garratt
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