Financial Results 2025

 

Revenue £1,106.7m 2024: £992.9m	Gross profit £78.3m 2024: £70.8m
Operating profit1 £13.0m 2024: £9.9m	Gross sales value2 £1,301.1m 2024: £1,122.3m
Net cash (pre-IFRS16)3 £1.5m 2024: £9.6m

•  11.5% increase in revenue as a result of continued organic market share growth in existing customers, including a significant new strategic partnership with a leading logistics provider
• 10.6% increase in gross profit generated by the organic growth in GB temporary recruitment revenues, alongside growth in permanent recruitment fees in Ireland
• Operating profit significantly ahead of market expectations, up 31.3% to £13.0m (2024: £9.9m)
• Conversion ratio of gross profit to operating profit improved to 16.6% (2024: 14.0%), demonstrating both the improving quality and efficiency of the business

Notes:

1. FY 2024 operating profit is stated after charging £0.2m of non-underlying expenses.
2. Gross sales value represents the value of consideration received or receivable for the supply of services, including agency sales, (excluding fees) net of VAT.
3. Presented on a pre-IFRS16 basis which excludes lease liabilities and also excludes refinancing costs