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Engineering recruitment giant Fircroft saw sales jump by nearly a third last year as the company reported its most successful year of trading. Turnover rose a sharp +32% to £725 million while gross profit increased +30% to £49 million.
Fircroft, one of the 40 largest staffing firms in the world, specialises in recruiting technical staff for the oil and gas, automotive, power and energy, mining and general engineering sectors. In 2012, the firm saw strong growth in Australia where sales rose +37% year-on-year.
Johnathan Johnson, CEO at Fircroft, said: “While global economic growth remained decidedly sluggish in 2012, at Fircroft we have delivered sales and profits growth of almost a third. Last year’s exceptional performance saw us break the US$1bn sales barrier for the first time, and we believe we are primed for even greater growth in 2013.”
Investment group Equistone last year bought a 37% stake in Fircroft for £140 million. “The investment in Fircroft from Equistone is a huge endorsement of our future business plan and demonstrates the underlying strength and confidence in our company,” said Mr Johnson. “We have a solid base for growth overseas where sales were up +36% in 2012.
The British-based firm now operates in 45 countries and generates 80% of its revenue overseas. Last month, Fircroft appointed Singaporean recruitment pioneer Dhirendra Shantilal to head up its Asia Pacific division as the recruiter aims to significantly grow in the region.
Over the last six years turnover has more than tripled at Fircroft and the firm now employs 527 members of staff worldwide.