Manchester recruiter Search Group has reported strong revenues for 2018.
Increases in both profitability and cash generation have been supported by the acquisition of Henderson Scott International Group, supplementing a number of significant business wins for the group.
The business has reported EBITDA of £8.8m for 2018, up from £6.3m in the previous year.
Turnover grew from £184m to £221m and net fee income was up from £41.2m to £52.8m.
It also demonstrated strong cash generation, reporting £8m in the period.
The firm said last year’s acquisition of Henderson Scott, a global specialist for the technical and IT sales sector, enhanced its services and capability ‘marking a serious statement of intent for future growth plans.’
The firm’s commitment to staff and professional development saw Search recognised with the award of a Platinum accreditation against the Investors in People Standard.
The recruiter is in a group of 1 per cent of accredited companies who hold this accolade in addition to a placement in the Sunday Times ‘Best Companies to Work For in the UK’ list.
Stuart Dick, Search Group CFO said: “We’re delighted by the results we’ve seen emerge from our work in 2018 and this is testament to our people and their efforts throughout the year.
“The acquisition of Henderson Scott was a significant development for the company and almost a year on; I am delighted with the positive impact of the acquisition, enhancing the group’s reputation in the technology space and bringing greater scale and reach.
“Against a backdrop of political and economic uncertainty, as well as increasingly complex and fast-moving regulatory changes, the UK employment market is one where skills shortages have never been more of an issue for business.
“I am proud of the role that Search plays, delivering value and expertise to its clients.”
