Phaidon Holdings, Trading Update 2013/14
Phaidon Holdings, the parent company of Phaidon International, the London headquartered international multi-sector specialist recruitment group, announced a trading update for the full year ended 31st October 2014.
The Board is pleased to confirm that the Group revenues for the full year grew in excess of £30m, which is a 49% increase on the previous year, GP/NFI increased by 35% to c. £21.8m; whilst operating profit increased 126% to over £3.6m.
The group continued to make significant investment during the year, further developing its global network by expanding the offering of its chosen specialist brands locally across all geographies within the United States, Switzerland and Singapore, including the opening of a new office in Hong Kong.
Adam Buck, CEO, commented on the results, “Most pleasing about the last 12 months is that after a heavy period of investment over the last few years we have seen proof of concept. We have experienced accelerated growth and a strong uptick in profitability against the backdrop of continued investment in our global expansions plans and diversification of our specialist brands and interim solutions across our network of offices.”
The Board would like to thank the staff across the Group for their exceptional work over the last 12 months and look forward to another successful year in 2015.
Buck stated, “With all the investment in physical office space globally over the last year, we are well positioned to meet the aggressive growth we have planned to increase headcount by over a third in the next 12 months and further our global footprint throughout 2015 and beyond.”