Member Article

North West recruitment firm report 45% profits rise

North West Oil and gas recruitment specialist NES Global Talent have reported a 45% rise in profits.

The international firm said EBITDA was £24.3m, up 44.6% for the year ended October 31 2012.

During the period, the firm opened new offices in Denver, Darwin and Melbourne, taking its total office count to 32.

NES said there was a continued focus on engineering and technical staffing, and reduced exposure to the UK IT sector. which forms just 2.7% of group profits.

Chief executive Neil Tregarthen said: “2012 was probably the most exciting year in the company’s history. Not only did we grow EBITDA to £24.3m, a record increase over prior year of 45%, we also concluded the sale of the business to new sponsors, AEA Investors LP. A large part of the equity return for that transaction went to over one hundred of our staff and it is a great feeling as Chief Executive, to see the people who have been at the heart of our success since I joined eight years ago, doing very well from the sale.

“All members of staff, including myself, have reinvested circa 50% of our proceeds back into the business and I can think of no better sign of our confidence for the future. That in turn, will ensure our wider stakeholders, including clients, contractors and candidates, continue to receive the best in class service that they have a right to expect.

“The global team and I have now agreed a new vision, that of being a £100m profit business by the year 2020 and with the support of our new investment partners AEA, we look forward to delivering against that plan, just as we have done continually since 2004.”

This was posted in Bdaily's Members' News section by Tom Keighley .