Newcastle recruitment giant Frank has announced a 42% increase in turnover as it continues its growth around the world that has seen staff numbers top 1,500.
Frank Recruitment reported revenues of £180.4m – up from £126.5m a year earlier – for the year ending November 30, 2017. Over the same period operating profit rose from £5.7m to £14.8m.
The year saw the company bring all of its Newcastle staff under one roof after it moved its HQ to the St Nicholas Building, opposite the historic Black Gate and around the corner from its original home on Collingwood Street. Around 100 jobs were created in the process.
The firm also continued its growth in America with the opening of an office in Dallas, while sites in Tampa and Denver will follow this year, along with a push into Europe that will see offices open in Barcelona, Amsterdam, Cologne and Warsaw.
Frank attributed its rise in revenues to growth in the European and North American markets, which saw a 42% and 48% increase in year on year growth, respectively.
It also launched a number of new brands, including FRG Technology Consulting, which specialises in marketing automation and emerging technology recruitment, and Jefferson Frank, which focuses on AWS recruitment.
CFO Lewis Miller said: “Our continued financial success has allowed us to progress with our ambitious growth strategy, where we have increased our presence in the US and EMEA markets, allowing us to serve our customers better using local skills and knowledge.
“Having large hub offices that cover expansive geographic areas assists in creating one global process, utilising the same high-quality training, systems, database, and management structure. More importantly, this approach helps to create a positive global culture across all of our offices.”
Frank Recruitment Group was founded in Newcastle upon Tyne in 2006 and is a leading technology recruitment specialist.
The accounts show its headcount growing from 815 to 1,152, though that has since topped 1,500.
Frank, which has been one of the North East’s fastest growing companies in recent years, was acquired in 2016 by US investment group TPG Growth, which has previously had stakes in the likes of airbnb, Spotify and Uber.
Source : Chroniclelive