Berry Recruitment Group (BRG) has seen its turnover increase by more than six per cent to a touch under £70m, its latest accounts show.
The business that works from 35 locations across England and Wales recorded a profit of £1.6m before taxes, depreciation and amortisation (EBITDA*). It made two acquisitions last year including Southampton-based CPN Construction and its training centre which will add around £6m in turnover.
In December, BRG acquired London Staff Bureau (LSB) that operates in the hospitality sector as well as in the office and professional areas. LSB will increase BRG’s turnover by around £1m and adds to its growing presence in the capital by joining the group’s Wild Berry Associates brand.
As well as making acquisitions, BRG has grown organically and now employs well over 200 people.
Group chairman Tony Berry, previously head of Blue Arrow and Manpower, said: “The accounts show that we continue to grow through business development as well as by acquisition.
“The figures are robust in the face of Brexit uncertainty and the challenges it has presented.
“We have been innovatively using the full online and offline marketing mix to source candidates, and being established in prime locations has certainly helped.
“This year has started extremely well and we are ahead of budget and we remain optimistic about the recruitment sector and the ability of our staff.
“Our aim is to continue to grow organically and by targeted acquisition.
“BRG’s three brands, Berry Recruitment, Wild Recruitment and Wild Berry Associates, are all performing strongly.”
BRG is headquartered in St Albans, Herts, and the accounts for the year ending 31 December show turnover at £69.4m.
*Financial analysts consider that EBITDA (earnings before interest, taxes, depreciation and amortization) gives a useful and more consistent reflection of how the business is performing. It looks at the underlying operating results and is considered to be a profitability metric that is closely related to cash generation.