GCS on target for new company milestone - January 2009

Wednesday, 25 February 2009

The half-year results for GCS, the IT Recruitment Specialists, have been released and show continued growth. In comparison with the same period in 2007/2008, company-wide gross profit has increased by 8.9% to £4m, with a 6.4% domestic GP increase. The contract department has shown the strongest UK growth, maintaining margins at 19.5% yet increasing contract GP by 7.9%. GCS is now confident of beating their previous record for highest turnover year. In this area, there has been an overall increase of more than 7%, suggesting that the company is on course for a £31.1m turnover for the financial year 2008/2009. In addition to the impressive UK growth, including a new Birmingham based operation, the organisation’s European operation has posted impressive results, with an 18.4% increase across the firm’s international offices in Ireland, Holland and France. Chairman Chris Bartlett could not be happier with the results. “We are delighted to see this level of growth, especially in such an unpredictable market. Each department is showing improvement in sales figures and is highly motivated to continue breaking records into the New Year.” Bartlett acknowledges that the current financial climate may prove troublesome to continued business growth but remains confident. “Some of us are old enough to remember 1992 and how poorly that year started after a good 1991. That said, GCS is in fantastic shape with some of the best recruitment professionals in the industry and, thus far, the technology market and more importantly, our customers are proving resilient to the sensationalist ‘doom and gloom’ that pervades the press. Everyone needs to be supportive of each other in order that we are all in good shape to take advantage of the upturn that will inevitably follow.”

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