Outsource reports 5th year of consecutive growth
5th year of consecutive growth for Outsource UK
Outsource UK Ltd issues this statement to summarise recent operational activities and to provide trading guidance in respect of their financial year ended 31st May 2018. This is in advance of the company’s audited full year results which are scheduled for release during October 2018. This information is subject to further review.
Trading & Operational Update - 2018 full year results
Outsource UK Ltd., the UK-based Technology, Change & Engineering staffing specialists, report revenues for their Financial Year end 31st May 2018 of £78,215,964 representing an increase of 9% on prior year and 17% CAGR over the last 5 years. Net Fee Income for the period grew by 11% with a 4% increase in EBITDA.
The company commented that it’s Engineering & Defence division had performed strongly during the period with an increase of 26% to £27.7m compared to £22m in prior year. In January 2018, Nick Dettmar succeeded Paul Jameson as CEO with Nick then announcing the launch of an extended portfolio of products and services designed to respond to the changing landscape within the sector. The company also used this as a platform to launch a refresh to its brand early in 2018, focussed on modernising the logo, colours and imagery and using the full circle O of Outsource as the focus for the company’s proposition, ‘Taking Care of Everything’.
Commenting today, Nick Dettmar, Chief Executive said: “I am pleased we have managed to deliver another year of sustained growth at revenue and profit level whilst continuing to invest in the business for future growth. We have focussed on increasing the number of customers we work with and are delighted to see a 21% increase in our client numbers and have had a very positive response from new and existing customers to our extended suite of products and services. We will continue to respond to the changing staffing landscape by providing innovative and creative solutions to our customers’ needs. Looking ahead at our pipeline and building on the companies sustained financial performance provides confidence for our long-term growth prospects.”