Specialist recruitment and outsourcing firm Servoca (SVCA: LSE) reported revenue for the six months ending 31 March 2016 of £34.4 million, an increase of 22.5% compared with £28.1 million during the same period last year. 

“We are pleased to report that for the six months ended 31 March 2016 there has continued to be a significant improvement in the performance of the group,” Andy Church, CEO of Servoca said.

“The improvement was again led by our recruitment businesses which continued to perform well,” Church said. “Our Education, Healthcare and Criminal Justice operations all delivered growth over the same period last year.”

"As indicated in our recent trading update, continued growth has helped the group to deliver results significantly ahead of the same period last year,” Church said. “Strong sales growth had led to a 30% increase in pre-tax profits. Full year profitability will benefit from the pivotal September period for our Education Recruitment business and the group is well placed to deliver against full-year expectations."

The company operates two primary business segments: Outsourcing, which is subdivided into Domiciliary Care and Security; and Recruitment, which is subdivided into Education, Healthcare, and Police.

Revenue for the period was broken down as follows:

The company states that, for the year-ended 30 September 2015, their Domiciliary Care business in the Outsourcing segment had delivered growth over the prior year despite a lack of funding in the social care sector and rising costs of supply. However, the cumulative effect of these factors had resulted in a reduction to revenues during the first half of this year compared to the same period last year. As a consequence of this, the company had continued to manage costs tightly in this area.

“We continue to see strong demand for the services we supply through our recruitment businesses,” Church said. “Our Education and Healthcare businesses supply resource which is essential to meet the needs of a growing and ageing population. Despite some issues facing both markets, this imperative remains, and these markets remain characterised by a shortage of candidates to meet demand.”

The company stated that it will continue its strategy to grow organically and by bolt-on acquisitions and that it remains on course and confident in delivering its expectations for the full year.

As of last trade, Servoca traded at £25.35, down 9.46% on the day and 20.71% above the 52 week low of £21.00 set on 24 August 2015. Based on its current share price, the company has a market value of £34.8 million.