UK recruitment firm Hydrogen Group (HYDG: AIM) reported revenue today for the full year ending 31 December 2018 of £135.7 million, an increase of 7.7% compared to the same period last year.

Hydrogen Group’s growth in Net Fee Income (NFI) was partly driven by the full year impact of Argyll Scott, which the group acquired in 2017 and fully integrated in 2018. The group’s NFI increase in 2018 was also boosted by strong underlying growth, especially in APAC and USA.

“The integration (of Argyll Scott) has enabled the development of a new operating model which has helped to drive the business forward during the year and we believe will provide the basis for sustainable growth moving forward,” the group stated.

The group’s current management and reporting structure focuses on the performance of three core markets: EMEA, USA and APAC.

Revenue by region was broken down as follows.

Revenue by recruitment classification was broken down as follows.

Looking ahead, the group said trading to date during 2019 has been in line with the Board's expectations.

“The Board is mindful of the challenges and uncertainties presented by both the UK's planned exit from the European Union, however, we are confident that we will achieve continued growth this year,” Stephen Puckett, Chairman, said.

“The group's plan for the year ahead is to continue focusing on growing and developing its niche teams into market leading businesses by investing in high performing individuals and our global operating model, while continuing to explore acquisition opportunities that both meet our selection criteria and have the potential to accelerate our growth plans,” Puckett said.

As of last trade Hydrogen Group traded at £68.00, up 2.26% on the day and 12.82% below its 52-week high of £78.00, set on 21 September 2018. Based on its current share price the company has a market value of £21.67 million.