Swindon-based IT recruiter Outsource UK has increased turnover by 45 per cent, reflecting growth across all its sectors and sending the figure through the £30m mark for the first time.
The firm’s turnover rose to £31.7m to year ending May 31, up from £21.8m in 2011. During this time Outsource achieved organic growth across all market sectors with the majority of the growth coming from the financial services sector. It also took over another business.
Paul Jameson, Outsource UK managing director, said: “We are really pleased with these results. This is our best performance in terms of growth since 2009 and, considering the difficult economic conditions all businesses are facing, it really is great news. Our strategy of growing accounts with existing customers by expanding the services we offer to them has clearly been successful.”
In November 2011, Outsource acquired Staffordshire-based Omnium IT Recruitment, and this acquisition has contributed significantly to the increase in turnover. Fees generated from permanent placements also increased on 2011 levels, with activity in this area continuing throughout 2012.
Following the Omnium takeover, and not reflected in the figures, was the acquisition last July of Manchester-based defence and engineering recruitment firm Bramlove. With its Manchester and Staffordshire offices, Outsource UK – which has its Swindon headquarters at Churchward – can give greater coverage for the UK.
The increase in turnover also means Outsource UK has upped its position in the industry rankings. The company is now ranked 32nd in Recruitment International magazine’s Top 250 list of IT recruitment businesses by turnover, a move up from its 36th position in 2011.
Outsource UK is a big Swindon success story. In 2011 it celebrated 20 years in business, having started in 1991 in Paul’s front room. To mark its anniversary it relocated from Old Town to prestigious offices Swindon’s historic railway quarter.
