Arrows Group Global, the international TMT and Healthcare recruitment services group, trading update for the full year ended 31st March 2014. The Board is pleased to confirm that the Group revenues for the full year grew to £46m, which is a 53% increase on the previous year (£30m); NFI increased to £11.1m; with operating profit increasing to £3m as compared to £1.7m.
During the year the Group continued to invest in future growth and opened new offices in Germany and new service lines in the Healthcare division. Q4 run rates were strong and the Board forecasts that the Group turnover for the next financial year 2014 – 2015 will be in excess of £65m.
Overall gross profit increased by 26% compared to the previous year. The main driver for this growth was the continued success of the European business which grew by 82% in the year and now represent 47% of total TMT revenues.
Looking ahead the division will continue with its core strategy of developing its European presence to support its international TMT clients.
The Healthcare division continues to perform strongly with this business benefitting from winning key national frameworks during the year. Gross profit has grown by 60% over the 12 months and with the addition of new services, headcount is expected to double in 2014 – 2015.
The Board would like to thank the management team and staff across the Group for their hard work and professionalism over the last 12 months and look forward to another successful year.