Eden Scott, one of Scotland’s leading independent executive search and recruitment agencies, is proud to announce a substantial increase in turnover from £13m to just over £17m for the financial year ending March 2024.
In a challenging marketplace, Eden Scott’s strategic focus over the last few years has been to grow its contractor and temporary recruitment services in recognition of market requirements, particularly in relation to the renewable energy sector, which continues to grow.
While the company achieved good profit levels in 2022-23, the expected profit margins for this period reflect the difficulties many businesses faced as the UK navigated harsh market conditions in the second half of this financial year.
Despite this, the team, led by CEO and Co-Founder Michelle Lownie, are optimistic as they embark on their ambitious growth plan for the next two years.
Michelle Lownie, CEO, commented:
“The increase in turnover this financial year has been great to see. However, our profit levels were undoubtedly a result of the challenging conditions in the second half of the year as the market felt the impact of the recession.
Decisions took longer, and hiring patterns adapted as business confidence wavered. However, our strategy has been to grow our temporary and contractor recruitment services to provide the flexibility our candidates and clients need. Our internal hiring process reflected this approach, as we recruited specialists in this area.
I’m incredibly proud of our team’s resilience in the face of difficult market conditions. They never wavered from our core beliefs and values, which we reassuringly hear from our customers regularly. This just shows that we have the right team on board.”
Lownie continued, “Our growth strategy moving forward is ambitious and targeted. We are particularly focused on expanding our presence in the UK’s Renewable Energy Sector, Engineering, and Deep Tech industries.
Additionally, we are committed to supporting the development of Scotland’s tech scene. Through sponsoring market-square influencers such as Scottish Edge and Young Company Finance and running Invest2Scale, we will continue to work hard with entrepreneurs to understand their challenges and find the exciting talent they need to grow the scaling businesses that can fuel our economy.
Investor confidence is slowly returning both for early-stage businesses and more established companies. Larger deals, such as the £16.7m investment in Orbex, highlight how important it is that our team is on hand to support them.”
Eden Scott’s own recruitment plans are critical to its growth. It aims to grow its team by around 15% and strengthen its position with key hires in its chosen growth sectors.
As Eden Scott looks to the future, it remains committed to its core values of quality service and strong client relationships. With a strategic focus on high-growth sectors, including Scotland’s burgeoning space sector and, of course, the renewable energy sector, despite the challenges of the last six months, the team remain optimistic about the outlook over the coming few years.
