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Impellam full-year revenue rises 10%

March 03, 2015

Impellam Group plc, one of the world’s largest staffing firms, reported revenue rose 9.7% in full-year 2014 to £1.32 billion (US$2.06 billion).

In North America, managed services revenue rose by 13.6% in constant currency to £95.3 million (US$148.0 million) in 2014, but specialist staffing fell by 7.7% in constant currency to £91.4 million (US$142.0 million). The company said it identified US business issues and remedial action was taken.

Acquisitions completed in 2014 include UK-based tech staffing firm Lorien for £22.3 million and Career Teachers in the UK for £20.3 million.

(£millions) Full-year 2014 Full-year 2013 % growth Full-year 2014 (USD$millions)
Revenue £1,323.4 £1,206.2 9.7% $2,055.5
Gross profit £193.9 £173.3 11.9% $301.2
Gross margin 14.7% 14.4%    
Profit/loss for the period £26.2 -£1.0 -- nm

Quote

“During the year, we saw improved economic conditions which favored the growth and development of the group," said CEO Julia Robertson. “Improved client and candidate sentiment continues to give us clear organic growth opportunities in many market segments. We made two acquisitions during the year: Career Teachers in March and Lorien Resourcing in November. Both businesses are now thriving in the Impellam family and growth synergies are already being recognized.”

Revenue by service types for United Kingdom and North America

(£millions) Full-year 2014 Full-year 2013 % growth Full-year 2014 (USD$millions)
Managed services-UK £597.2 £482.3 23.8% $927.6
Specialist staffing-UK £544.0 £502.5 8.3% $844.9
Managed services-NA** £95.3 £88.2 13.6% $148.0
Specialist staffing-NA** £91.4 £104.2 -7.7% $142.0
Inter-segment revenue -£65.5 -£45.0 — nm
Carlisle Support Services £61.0 £74.0 -£17.60 $94.7
         
**percent change measured at constant currency rates      

Share price and market cap

Impellam shares rose 4.66% to £28.75, according to Yahoo!