International specialist recruitment firm Phaidon International today reported gross profit rose 27% to £32.7 million in its fiscal year ended 31 October 2016, and that it is ahead of the supervisory board’s expectations for the first half of FY 2017.

Phaidon’s operations include the US and UK, and last year the firm ranked No. 4 on Staffing Industry Analysts’ list of fastest-growing staffing firms.

“The results are testament to all the hard work by our staff globally and it is great to see the new executive team building on the FY15/16 success as we push into 2017, following the successful institutional investment by Muzinich & Co in April 2016,” said Founder and Executive Chairman Adam Buck.

Phaidon’s brands include Selby Jennings, Carlton Senior Appointments, DSJ Global, Glocomms, EPM Scientific and LVI Associates.

In April 2016, Phaidon raised an £18 million investment from Muzinich & Co and HSBC Bank Plc to support the company’s next growth phase.