Swindon-based specialist recruitment consultancy Outsource UK has achieved a 23% increase in annual turnover as it continues to grow organically and through acquisition.
Total sales climbed by £10.8m to a better-than-expected £46.8m in the year to May 31. The firm, which employs around 70 staff, said growth came from new customers to its portfolio as well as an increase in work from existing clients.
In April it made its fourth acquisition in as many years by taking over a business specialising in providing high-level engineering staff to the defence and engineering sectors.
Outsource, launched by chief executive Paul Jameson in 1991 is now one of the UK’s largest independent IT and engineering staffing businesses. It works with clients across the UK and Europe, supplying contract, permanent and interim staff for IT, financial services, engineering and defence firms.
Chief operating office Nick Dettmar said: “The financial services sector in particular remains attractive as regulatory reform and the digitalisation of many services is driving the need for new talent.”
Outsource’s Manchester-based engineering division contributed 18% of the company’s revenues – a 50% growth on the previous year.
The division has focussed on building its capability in specialist defence-based engineering markets.
Nic Dettmar added: “The ability to provide a high-quality service into highly regulated markets is a key Outsource differentiator and a continuing area of investment.”
During the year Outsource launched a public sector division and secured a place on the Government’s non-medical, non-clinical framework.
It has also recently won a place on the coveted Crown Commercial Services (CCS) framework, allowing it to supply of non-medical and non-clinical temporary and fixed-term staff.
Paul Jameson said: “We have taken steps to strengthen our infrastructure to capitalise on improved trading conditions.
“This work will continue through 2015 as we look to implement our five-year strategic plan. We will build deeper specialist expertise within our chosen market sectors as we expand our service portfolio across the financial services and engineering sectors and look to exploit the growth opportunities that our move into public sector recruitment presents.
“We have committed future capital to build scale within the business which will help us continue our focus on delivering sustained compound growth whilst improving on efficiencies and productivity. We believe we can continue to outperform our sector by focussing on delivering a high quality service to our partners.”
As well as its Swindon head office in Churchward and its Manchester offices it also has a base in Newcastle-under-Lyme, Staffordshire.
The company has been included in a number of fastest-growing company lists including Recruiter magazine’s Fast 50 and the Sunday Times’ Virgin Fast Track league table. It was recently named by the London Stock Exchange as one of the top 1,000 businesses to inspire Britain.
Pictured, from left: Outsource board members Sandie Gale, Nick Dettmar, Charles Hughes and Paul Jameson
