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Impellam North America revenue up 7%

March 10 2014

U.K.-based Impellam Group plc, which ranks among the largest providers of staffing in the U.S., reported North America revenue rose 6.6 percent in the year ended Dec. 27, 2013, compared with 2012. U.S. staffing revenue totaled £192.4 million (US$315.3 million), the first time the business broke through the $300.0 million revenue barrier since 2008.

Impellam’s North American brands include Corestaff and Guidant.

North America gross profit rose 7.4 percent to £39.1 million (US$64.1 million). Gross margin edged up to 20.3 percent from 20.2 percent in 2012.

Total revenue at Impellam edged down 0.4 percent for the financial year to £1,206.2 million (US$1.98 billion). However, gross margin remained at 14.4 percent.

“Revenue increases in the core U.K. and U.S. staffing businesses were offset by reductions in Medacs and Carlisle, the former due in part to a change in the process by which certain locum doctors are now paid resulting in revenue recognition on an agency basis,” said Chairman Andrew Wilson “Similarly, group gross profit was also broadly flat, again with gains in the staffing businesses offset by a reduction in Carlisle. Gross profit margin has therefore remained flat with some evidence that pricing pressures are easing and we have also seen an increase in permanent recruitment activity, particularly in the second half.”

Operating profit for the year fell 13.1 percent to £39.9 million (US$65.4 million).

Impellam appointed Julia Robertson as group chief executive officer in April 2013. The company last week announced the acquisition of Career Teachers Ltd., a U.K.-based education recruitment business, for a total consideration of £22.3 million.

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