Specialist recruitment and outsourcing firm Servoca (SVCA: LSE) reported revenue for the full year ended 30 September 2017 of £80.2 million, an increase of 15.9% compared with £69.2 million during the same period last year.

The group announced adjusted EBITDA, before share-based payment charges, amortisation of intangible assets and contingent consideration totalling £1.0 million (2016: £0.7m), increased by 12.8% to £4.4 million, from £3.9 million.

Servoca reports in two business segments. The Outsourcing segment provides services to the Domiciliary Care and Security sectors. The Recruitment segment provides recruitment services to the Healthcare, Education and Police sectors. Revenue for the period was broken down as follows:

Revenues in the Outsourcing segment accounted for 21% of group revenues. Both the Security and Domiciliary Care businesses reported growth over the year.

Meanwhile, revenues in the Recruitment segment accounted for 79% of group revenues. The segment’s Healthcare, Education and Criminal Justice businesses all reported improvements.

“These results represent another very positive year of progress and build on our consistent improvement over recent years,” Andy Church, CEO, said. “All five of the business areas through which we manage the group saw an increase in revenues and our Outsourcing operations enjoyed a significant improvement in operating profits. The performance of the Group continues to benefit from its diversified business mix. We are again pleased to be able to declare an increased dividend payment for the year-end, which our strong financial performance enables us to do. Our performance over the last year means we continue to face the future with confidence.” 

Last month Servoca announced the retirement of Glenn Swaby, who after nine years at the company was replaced by Chris Hinton with immediate effect.

Looking ahead, the group stated, “The balanced and diversified nature of the Group continues to provide growth opportunities. We anticipate that opportunities available to our Education, Health and Social Care and Domiciliary Care businesses in particular will offset current challenges in the area of NHS supply. We therefore continue to be confident about our future.”

In trading today, Servoca traded at £22.50, down 2.17% on the day. Based on its current share price the company has a market value of £28.26 million.