Search Consultancy delivers record £173.6m in turnover

Grahame Caswell

Search Consultancy Group Limited, which was established in Glasgow in 1987, has reported its highest ever turnover, strongest net fee income and best ever underlying EBITDA result for the 52 weeks to 3rd January 2016.

The recruitment specialist reported turnover at £173.6m (up 11%), net fee income of £41.8m (up 8.6%) and a fifth consecutive year of underlying EBITDA growth at £7.7m (up 18.4%).

The recruiter’s contractor base peaked at 7,400 workers (a rise of 9.6%) and it made a net total of 8,520 permanent placements (up 3.7%).

Chief executive Grahame Caswell said the Board was satisfied with the mix of business between contract and permanent placements and hailed Search’s exceptional people as instrumental in its success.

He said: “Search has continued to build on its strong track record of growth and I am delighted to report that the results are the best in the group’s history.

“Our net fee income and underlying EBITDA growth was driven by an expanding workforce of fee earners as the group continued to invest in people to secure future growth. Our five year track record of EBITDA growth demonstrates the success of our business model.

“The contract business continues to provide a high quality revenue stream arising from repeat business with a blue chip customer base, while our permanent business has delivered three year compound annual growth of 12 per cent.

“Search’s people remain the key to its success – our service is only as good as our people, whose passion to deliver exceptional recruitment services to both candidates and clients lies at the heart of our business.”

Search employs some 700 staff serving markets in England and Scotland from its 13 city centre locations. It offers specialist recruitment services across six vertical markets – Professional Services, Medical and Care, IT, Technical and Engineering, Construction, and General and Commercial Staffing.

This model enables Search to operate a portfolio of highly-successful niche businesses all under the umbrella of the Search brand.