BRG sees turnover and profits soar
Berry Recruitment Group (BRG) has seen its turnover increase by £5m to £74.4m, as reported in its 2019 annual accounts.
The impressive increase is all down to organic growth and its profits before taxes, depreciation and amortisation (EBITDA*) have increased by 50% from £1.67m to £2.5m.
BRG works from almost 40 locations across England and Wales, with a Wild Berry Associates branch in Central London.
The group concentrates on seven specialist sectors; office and professional, warehouse and manufacturing, driving, construction, catering, technical and rail.
It has more than trebled its turnover in the last decade and its 4,000 temporary staff work close to 100,000 hours each week.
The seven per cent increase in turnover is due in part to a strategy of concentrating on core areas and customer service. Acquisitions from previous years have also performed impressively.
BRG has also invested heavily in staff and staff training, while effectively controlling other costs.
The success must also be seen alongside the uncertainty of Brexit that dominated events last year.
The business is backed by Tony Berry, former chairman of Blue Arrow and Manpower, and Ian Langley, chairman of infrastructure specialist Airswift Holdings.
Tony, chairman of BRG which was founded in 2009, said: “What is impressive is that the growth has all been organic.
“Emphasis on recruiting first rate consultants and investing in their training has helped deliver these results.
“We plan significant growth in 2020 by more organic growth but also by targeted acquisitions.
“We will continue to invest in staff and technology, concentrate on specialist sectors and control operating costs.
“Candidate shortages remain an issue and we have worked heavily to encourage our EU workers to sign up to the settlement scheme.
“There remains economic uncertainty surrounding the UK’s relationship with the EU and the COVID-19 virus, but we are bullish about the future.
“With innovations, quality staff and a talented board making the correct strategic decisions we anticipate further strong growth through 2020 and beyond.”
*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.