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View All NewsImpellam revenue edges up for full-year 2017
UK-based staffing and workforce solutions provider Impellam Group plc reported revenue for the full-year 2017 rose 1.5%, affected by challenging conditions in its UK specialist staffing and healthcare businesses.
| (£ millions) | Full-year 2017 | Full-year 2016 | % change | Full-year 2017 (US$ millions) |
| Revenue | £2,171.3 | £2,140.2 | 1.5% | $2,917.3 |
| Gross profit | £285.5 | £288.6 | -1.1% | $383.6 |
| Gross margin | 13.1% | 13.5% | ||
| Profit for the period | £31.1 | £44.0 | -29.3% | $41.8 |
Revenue by segment for United Kingdom and North America
| (£ millions) | Full-year 2017 | Full-year 2016 | % change* | Full-year 2017 (US$ millions) |
| Managed services-UK, Europe and Australasia | £1,019.4 | £990.0 | 3.0% | $1,369.6 |
| Specialist staffing-UK, Europe and Australasia | £811.9 | £817.8 | -0.7% | $1,090.8 |
| Managed services-North America | £187.2 | £188.4 | -4.5% | $251.5 |
| Specialist staffing-North America | £213.8 | £204.4 | -0.6% | $287.3 |
| * Change is in constant currency |
“Managed services - North America” revenue fell 4.5% on a constant currency basis, and “specialist staffing - North America” revenue edged down 0.6% in constant currency.
In the US, managed services gross profit was flat due to the timing of wins and losses; the specialist staffing division reported “good performances” from technology in the US.
Impellam’s global managed services brands include Bartech, Comensura, Guidant Group and others. The company’s specialist staffing divisions include Blue Arrow, Coresaff Services, Bartech, SRG, Tate and others.
The company said its specialist staffing and managed services businesses continued to diversify geographically to reduce exposure to the difficult UK market, especially in the education and healthcare sectors
Quote
“Our Managed Services businesses across the UK, the US and Australasia delivered robust results, demonstrating the resilience of our business model,” said CEO Julia Robertson. “Our Group supply continued to rise as we leveraged our Specialist Staffing brands as a key source of high-quality talent for our Managed Services businesses. In particular, we made good progress in North America as a consequence of the Bartech acquisition in December 2015.”
Share price and market cap
Impellam shares closed up 2.6% at £592.61, and the company had a market cap of £304.8 billion.