GCS has announced its best ever gross profit (net fee income) year of £7.63m. Company founder and chairman Chris Bartlett said “I’m absolutely delighted with our performance over the last year and this result is testament to the hard work and dedication of everyone in the company. Last year we found new opportunities for close to 1,000 individuals across more than 200 businesses. We set a company-wide goal to achieve best-ever performances, both individually and collectively, and everyone pulled together to deliver this fantastic achievement.”
Staffgroup, the parent company of specialist recruitment brands Eurostaff, Earthstaff and Enginestaff, has posted impressive financial results for the year ended 31 December 2014, showing turnover of £52m. The Group has also posted an EBITDA of £3.5m (on a constant currency basis). Staffgroup’s joint managing directors Mark Znowski and Paul Flynn commented on the results, “In a year which saw us make significant investment into the business with new office openings in Hamburg and Houston – as well as expanding our operations in London and Berlin – we have continued to grow our headcount and improve our financial performance, which is extremely pleasing.”
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The outlook for jobs in the next three months appears sunnier in other parts of the Asia-Pacific region than in Singapore.Although the labour market here will stay tight, employers are still jumpy about where the economy is going in the months ahead – and remain cautious about hiring new staff.The latest Manpower Employment Outlook Survey report released on Monday indicated that the hiring prospects in Singapore in the third quarter (Q3) will stay “relatively stable” against Q2, and dip six percentage points from a year ago.The survey, which covered 690 Singapore employers, noted that the net employment outlook – the difference between the number of bosses looking to increase and the number to decrease recruitment – stood at a net plus 13 per cent for Q3, after allowing for seasonal adjustments.
Hays have released the latest figures from its FY 2014 APAC operating review. In Asia Pacific, net fees decreased by 18% (6% on a like-for-like basis(1)) to £173.9 million and operating profit decreased by 26% (14% on a like-for-like basis(1)) to £49.7 million, representing a conversion rate of 28.6% (2013: 31.7%). The difference between actual growth and like-for-like growth rates is primarily the result of the material depreciation in the rate of exchange between the Australian Dollar and Japanese Yen versus sterling during the year, which reduced net fees in the division by £26.4 million and operating profits by £9.2 million. Prevailing rates of currency exchange continue to represent a significant sensitivity for the reported performance of the division.In Asia, which accounted for 21% of the division’s net fees, excellent net fee growth of 25%(1) and operating profits more than doubled(1) to £4.9 million was delivered. Four of the five Hays businesses in the region delivered record annual net fees and all five businesses delivered growth of over 15%(1). Net fees in China grew 25%(1), Singapore 28%(1), Malaysia 29%(1) and Hong Kong 42%(1). In Japan, net fees increased by 17%(1) and market conditions were strong throughout the year.