Newcastle-based independent recruitment specialists, Central Employment, report increase in turnover and profit
Central Employment, the Newcastle-based independent recruitment specialists, which provides recruitment services for some of the largest businesses and brand names in the North East, has reported solid financial results for year ending 30 September 2021.
Based at St Mary’s Place employing 40 permanent staff and now supplying over 1,000 employees to the temporary employment sector, Central Employment has reported an increase in turnover to £25.6m (up from £20.1m), sales increasing by 27%, a rise in gross profit of 32% to £3.7m (£2.8m) with a net profit of £1.4m (£1.1m).
The company has also recently chosen to make a one-off payment of £500 to all its full and part-time employees to help with the cost-of-living crisis and the present economic uncertainty.
Predominantly supplying workers to the Manufacturing, Industrial and Pharmaceutical sectors, the business has also seen a rise in demand for its permanent employment recruitment services as vacancies and employment opportunities across the region and UK rise.
Finance Director, Will Palmer, said, “These financial results reflect an exceptional year for us, demonstrating the strong foundations and structure of our business post-pandemic, with a very pleasing performance across all our business interests.
“We have experienced a marked year on year increase in demand for our specialist recruitment services from businesses in both permanent and temporary positions across the region.
“We have placed over 5,000 temporary and permanent workers into employment sector over the reporting period, and we are also looking to recruit permanent members of staff to join the growing Central Employment team here in Newcastle, whether that be at graduate level, sales, admin or recruitment level.
“It is also very pleasing that on a national level, Central Employment is the only Newcastle-based recruitment company to be listed in the ‘Recruiter top 50’ fastest growing recruitment agency’s in the UK, appearing at a very commendable position of 43rd.”
Will added: “We have a broad and growing client base looking to recruit quickly and efficiently with the right balance of skill set and profile, and we are very focussed on our business strategy and development going forward.
“As a responsible employer, and as a thank you for all their hard work, we are making a one-off payment of £500 to all our employees, full and part-time, to help with the present cost of living crisis, which we hope will go some way to help our staff during these uncertain economic times.
“Since our MBO of Central Employment in 2015 we have grown the business incrementally year on year and we are now looking to expand on our services and build on our successes to date, as demand for specialist recruitment services continues to prosper throughout the region and UK.”