Privately-owned nGAGE Specialist Recruitment reported turnover of £356 million for the full year 2018-2019, an increase of 8% compared to the previous year. Net fee income was up 16% to £66 million.

The group reported that growth in temporary and permanent recruitment was relatively balanced at 20% and 14%, respectively.

nGAGE added that its performance during the period was driven by organic growth, including the continued development of its managed service businesses, the success of its start-up ventures and its M&A programme.

The growth of its international business was a key driver of growth in the last 12 months with international markets contributing 28% of NFI against 15% in the prior year and growing by 49% over the prior year.

“The acquisition of Henlow, the international technology recruitment business, in November 2018 was a key milestone, further developing the nGAGE STEM pillar,” the company stated. “Working closely with the Henlow management team whilst utilising the nGAGE platform the business has moved forward, including opening its first overseas office in the US focusing on its quant (quantitative) sector clients.”

“nGAGE had historically focused on public sector facing markets and serving the temporary staffing requirements of the UK’s public sector remains an important priority for the group,” the company stated. “Austerity challenges within the public sector are well-publicised. Despite the additional disruption of IR35 legislative reforms and introduction of NHS pay caps, the group’s public sector businesses have continued to perform well.”

Tim Cook, nGAGE Group CEO, commented, “The UK Public Sector trading environment has of course been challenging, but we have continued to grow and take market share which is very pleasing. We have significantly improved our delivery capability through the continued investment in technology, and we are better placed than ever to capitalise on the opportunities ahead of us.”

Cook added, “Our strategy is simple; continue to buy and start niche specialist recruitment business and grow organically our existing operations, all supported by our new international service centre and highly efficient operations platform.”