Phaidon International, the London headquartered international micro-specialist recruitment group, announced a trading update for the full year ended 31 October 2015.

Group revenues for FY2015-2016 have grown in excess of £49 million, a 48% increase on the previous year and NFI increased by 27%, to circa £32.7 million. The group has also posted that EBITDA increased 66%, to over £6.5 million.

“2016 has been a tremendous year for the group, and the numbers are testament to that,” Adam Buck, Founder of Phaidon, said. “A key focus of ours has been investing in the future; we launched offices in two new locations - Boston and Chicago, experienced 39% increase in group headcount to 380, further global deployment of our brands and secured our first institutional investment.”

“The success of the financial year, partnered with the continued momentum of growth has prepared the business for an even stronger future. It is with this news the Board has announced key personnel changes for the new financial year in November,“ Buck said.

Harry Youtan has been promoted to CEO, from Managing Director of North America. James Brown will step up into the role of Managing Director of Eurasia and Kieran Behan will step up into the role of Managing Director of North America.  Adam Buck, will step into the role of Exec Chairman. Andrew McNeilis, COO, will move into the new position of Chief Commercial Officer. Stuart Batchelor, the group’s Chief Strategy Officer, will step into the role of Non-Exec Chairman, replacing Andy McRae who steps down after three years.

“I’m very honoured to be picking up the reigns from Adam. We have a remarkable foundation set for building upon the Group’s growth strategy,” Youtan said.