Spencer Ogden Releases 2013 Full Year Results
Spencer Ogden, the global energy recruitment firm, has released its 2013 full year results, revealing that it achieved a global turnover of £50.3m ($83.5m) last year.
The financial result was a 55 per cent rise on the previous 12 months. The company generated £32.5m ($54m) in 2012, £18.7m ($31m) in 2011 and 4.2m ($7m) in 2010.
Global net fees rose by £9.1m ($15.1m) in 2013 to £19.9m ($33m), an increase of 84 per cent, while the core EBIT figure, excluding office investments, stood at £4.9m ($8.1m). With these included, EBITDA totalled £2.2m ($3.7m).
David Spencer-Percival, CEO of Spencer Ogden, said: “These figures reflect the hard work and driven attitude demonstrated by all Spencer Ogden’s employees. We have always been a close knit team and remain so despite our growth. This has helped us surge forward, winning bigger contracts, attracting new candidates and expanding our services.”
Spencer Ogden’s plans for the coming year include the development of its existing office network and the addition of three to four new offices.
“We see no sign of growth slowing up; we are planning for another big year in 2014,” said Mr Spencer-Percival. “If all goes according to plan, we will turnover between £70m ($116m) and £75m ($124.5m) and generate global net fees in excess of £30m ($49.8m). We are an ambitious company and our budgeted figures exhibit this.”
Last year the firm opened six new offices (including two super hubs) and increased its headcount from 210 to 308.
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