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View All NewsImpellam revenue rises in first half amid in growth UK managed services segment
Revenue was up 4.9% on a constant currency basis at Impellam Group plc in the first half of the year. The UK-based company reported growth was concentrated in its managed services operations in the UK, Europe and Australasia.
| (£ millions) | H1 2018 | H1 2017 | % change | % change (constant currency) | H1 2018 (US$ millions) |
| Revenue | £1,109.6 | £1,077.0 | 3.0% | 4.9% | $1,459.3 |
| Gross profit | £135.5 | £140.1 | -3.3% | -0.5% | $178.2 |
| Gross margin | 12.2% | 13.0% | |||
| Profit for the period | £10.6 | £10.5 | 1.0% | $13.9 |
Revenue by segment for United Kingdom and North America
| (£ millions) | H1 2018 | H1 2017 | % change | % change (constant currency) | H1 2018 (US$ millions) |
| Managed services-UK, Europe and Australasia | £568.5 | £496.3 | 14.5% | 14.5% | $747.7 |
| Specialist staffing-UK, Europe and Australasia | £390.9 | £399.6 | -2.2% | -2.2% | $514.1 |
| Managed services-North America | £91.0 | £99.9 | -8.9% | -0.3% | $119.7 |
| Specialist staffing-North America | £92.2 | £111.2 | -17.1% | -9.7% | $121.3 |
North America managed services and staffing revenue both fell on a constant currency basis, and the company noted the impact of three client losses in 2017. Still, the company reported the managed services businesses in the US has a strong pipeline of opportunities and was helped by account expansions at clients such as Phillips 66.
Specialist staffing in the US was affected by reduced volumes in the automotive sector and candidate shortages.
Share price and market cap
Impellam shares closed up 1.5% at £467.00, and the company had a market cap of £234.7 billion.