A recruitment and headhunting firm focused on Scotland’s finance sector has returned to profit following its most successful year to date.
Edinburgh-based Core-Asset Consulting achieved more than £500,000 in net profits in 2017/18 after recording a loss of £88,550 in the previous financial year when it invested heavily in the business.
Founder and managing director Betsy Williamson, who heads a team of 30, said it was the firm’s strongest year since it was launched in 2005.
It reported a 45% increase in turnover for the financial year to 30 June.
“Delivering profits of this scale a year after recording a small loss really puts it into perspective,” said the mother-of-two.
“There was never any doubt we were going to deliver outstanding results. In fact the only reason we were in the red in the previous year was because of the scale of our investment in the business to make this happen.
“That was the only loss we have posted since I launched the company and there was never any doubt that it was simply a stepping stone on the path to our best ever year. We are now in better shape than we’ve ever been to meet the challenges the financial sector, in particular, is facing.”
The company was founded to service the asset management sector but it has since expanded across the wider financial services market with dedicated accounting and finance teams. It also works in the legal sector.
Williamson said it is a pivotal point in time in Scotland’s financial services sector as many home-grown firms and brands are disappearing.
“Instead – and across most of our disciplines – it is the multinational 'supertankers' at one end and the boutique independents at the other extreme that are flourishing.”
