Swindon’s Outsource UK, the independent IT and engineering recruitment specialist, has reported revenues for its Financial Year end 31 May 2018 of £78,215,964, representing an increase of 9% on the prior year and 17% CAGR (compound annual growth rate) over the last 5 years.
Net Fee Income for the period grew by 11% with a 4% increase in EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization).
The company commented that it’s Engineering & Defence division had “performed strongly” during the period with an increase of 26% to £27.7m compared to £22m in the prior year.
In January 2018, Nick Dettmar succeeded Paul Jameson as CEO with Nick then announcing the launch of an extended portfolio of products and services designed to “respond to the changing landscape within the sector.”
The company also used this as a platform to launch a refresh to its brand early in 2018, focussed on modernising the logo, colours and imagery and using the full circle O of Outsource as the focus for the company’s proposition, ‘Taking Care of Everything’.
Nick Dettmar, chief executive of Outsource UK, said: “I am pleased we have managed to deliver another year of sustained growth at revenue and profit level whilst continuing to invest in the business for future growth. We have focussed on increasing the number of customers we work with and are delighted to see a 21% increase in our client numbers and have had a very positive response from new and existing customers to our extended suite of products and services.
“We will continue to respond to the changing staffing landscape by providing innovative and creative solutions to our customers’ needs. Looking ahead at our pipeline and building on the companies sustained financial performance provides confidence for our long-term growth prospects.”
Pictured above: Nick Dettmar CEO of Outsource UK