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UK – Impellam posts +7% revenue growth

28 February 2013

UK recruiter Impellam (IPEL:LSE) today posted a +7% increase in revenue for its 2012 financial year, helped by growth in its domestic market and North America. Revenue amounted to £1,210.8 million in the year.

But gross profit fell by -4.5% to £174.1 million while profit after tax was down -60% to £9.8 million. In the year, the firm faced non-recurring items of £14.7 million mainly related to restructuring processes.

In the UK, turnover increased +11% to £762.2 million while gross profit fell by -5% to £102.6 million.  In North America, turnover was up +6% to £178.0 million and gross profit increased by +3% to £36.0 million. 

In the firm’s Medacs Healthcare business, turnover rose +1% to £187.7 million while gross profit fell by -7% to £26.0 million. Carlisle Support Services posted a -7% turnover decline to £82.9 million with gross profit falling -23% to £9.5 million. 

In early trading, the company set a new 52-week high as the share price jumped +14% to 405 pence, up +19% from a year ago. Based on its stock price, the recruiter has a market value of £155.80 million.

Impellam operates primarily in the UK and the US, with smaller operations in Australia, Ireland, New Zealand and mainland Europe. The firm is ranked among the 20-largest staffing companies in the world.  

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