Recruitment consultancy, Change Recruitment Group (CRG), has reported a 5.8% increase in revenue for 2015/16, to £18.0m compares to £17.0m for the previous year.
Last year’s proactive investment in CRG’s core areas, such as accountancy & finance, investment & risk, IT & Digital, is paying off, delivering growth in revenue, market share and new clients. These sectors, along with Business Services, will continue to be the Group’s star performers over the coming months.
The prolonged downturn in Oil and Gas recruitment continued to influence the financial performance of the business in 2015. However, through the strategy to replace activity from this market with investment in new areas, the Group has been able to mitigate this impact. The expansion of the customer base has been particularly successful, with an incremental 117 new clients billed.
A further emphasis on growing the temporary/contract market has also contributed to the revenue performance, with Change doubling the number of temps and contractors working compared to the previous year. Margins remain tight, therefore the positive impact of this is not as high as in previous years.
Mark McFall, Group Managing Director comments: “Last year, we took a hit as a result of the market challenges, and a strategic overhaul of our business – investment in people, office space and infrastructure didn’t come cheap, but it was necessary to lay the groundwork for the next 10 years. This year, the decks are clear, and the modest rise in revenue is an encouraging sign of things to come.
“Getting our house in order has been a priority. We are now leaner and ready to face the future with renewed vigour, with a focus on increasing our market share by winning new clients, investing further in the business and expanding our international reach.”