Impellam sees 9.1% revenue growth in H1 2023
LUTON, UNITED KINGDOM — Staffing firm Impellam Group reported a 9.1% global revenue rise for the half-year ending June 30.
CEO Julia Robertson highlighted that even though challenges in client and candidate confidence resulted in fewer permanent placements, the growth in temporary placements supported the company’s half-year results.
Financial highlights include a slight 0.1% increase in overall gross profit and a 6.8% boost in temporary staffing gross profit. However, permanent placement gross profit, incorporating RPO, plummeted by 54.6%.
For North America, profits grew by 1.2%, amounting to £39.6 million ($50 million), a growth driven by Bartech Staffing and SRG’s engineering and science sectors, mitigating losses from the Lorien technology staffing sector.
In the regional breakdown, the United Kingdom (UK) and Europe saw their gross profit decrease by 3.1%, settling at £52.6 million ($66.4 million), with challenging market conditions impacting permanent and tech staffing. In contrast, the Asia Pacific reported a robust 34% rise in gross profit to £5.4 million ($6.8 million), attributed to the global managed services portfolio, including the Comensura and Guidant brands.
Impellam has recently completed the sale of its Corestaff brand to Swipejobs Inc. for $19 million and divested its healthcare and specialist staffing sectors to Twenty20 Capital at a deal worth $102.2 million.
Meanwhile, acquisition talks with HeadFirst Global continue, with a decision now expected by August 31.
