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View All NewsAustralia – Ambition Group full year revenue rises 19.9%
Australia-based recruitment firm Ambition Group published its annual report for the year ended 31 December 2022. The group reported revenue of AUD 97.9 million (USD 66.2 million), up 19.9% over the year.
The group said its results were achieved due to strong performances from Singapore, Hong Kong, and Malaysia as well as improving results in the UK and Australia businesses. Furthermore, it added that continued containment of general overhead helped contribute to its results as well as the receipt/release of government support in the form of JobKeeper (Australia), Job Support Scheme (Singapore), and Employment Support Scheme (Hong Kong).
| (AUD thousands) | FY 2022 | FY 2021 | Change | FY 2022 (USD thousands) |
| Revenue | 97,924 | 81,642 | 19.9% | 66,206 |
| Net fee income | 49,416 | 37,918 | 30.3% | 33,410 |
| EBITDA | 11,982 | 6,502 | 84.3% | 8,101 |
| Profit before Tax | 11,049 | 5,861 | 88.5% | 7,470 |
| Adjusted Profit Before Tax | 6,228 | 2,534 | 145.7% | 4,210 |
| Total comprehensive income for the year | 13,170 | 5,462 | 141.1% | 8,904 |
The group added that its results include income of AUD 3.36 million (USD 2.2 million) (2021: AUD 1.2 million (USD 0.8 million)) in government support across multiple jurisdictions.
Government grants relating to costs are deferred and recognised in profit or loss over the period necessary to match them with the costs that they are intended to compensate.
Revenue by region
| (AUD millions) | FY 2022 | FY 2021 | Change | (USD thousands) |
| Australia | 35,121 | 34,634 | 1.4% | 23,745 |
| Asia | 55,468 | 41,151 | 34.8% | 37,501 |
| UK | 7,335 | 5,857 | 25.2% | 4,959 |
Ambition Group recruits for roles within accounting and finance, banking and financial services, and technology and transformation. The group works across a diverse range of SMEs and multinational organisations.