LONDON (Alliance News) - Nakama Group PLC, a recruitment consultancy listed on AIM, Monday said it swung to a pretax profit in its last financial year, and set its sights on making new hires and opening new offices in places where it thinks there is demand for its services.
The company made a GBP297,000 pretax profit in the year ended March 31, compared with a GBP121,000 pretax loss in the corresponding period the prior year, as revenue increased to GBP21.7 million from GBP17.5 million.
UK revenue was up 27% to GBP15.5 million, with Nakama citing an increase in contractors on site, and up 18% in Asia-Pacific at GBP6.3 million due to "shortage of skilled talent" in specialised markets.
"The group has delivered another encouraging trading performance, in line with expectations and is now generating encouraging momentum. I look forward to continued progress as we further establish and build our international footprint and brand," Chairman Ken Ford said in a statement.
"Trading in the first quarter is in line with our expectations although not without the normal recruitment challenges we face in terms of candidates, given the current candidate driven market. The board looks to 2016 as a year in which the group will continue to benefit from new staff members delivering an excellent service alongside increasing client demand," Ford added.
Nakama said that resuming dividend payments to shareholders will be kept under review.
Shares in the recruitment consultancy were up 0.6% at 4.55 pence on Monday morning in London.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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