With turnover up by 40 per cent and pre-tax profits of £15m,
technology services supplier, FI Group reported a successful six
months trading when it released its interim results recently
The group - which includes IT consultancy firms OSI and Druid -
saw its turnover rise from £145.4m, to £204m for the half-year
period to the end of October. Profits also grew by 32 per cent,
from £11.4m to £15m before tax and goodwill of £20.8m.
According to the company's financial report, its staffing arm,
FI Recruitment reported a 44 per cent increase in its external
business, accounting for £16.3m of the total revenue for the
period. The agency also secured three preferred suppliership deals,
including one with HM Customs & Excise, and launched a managed
resourcing service, notes the report.
Group chairman Hilary Cropper described the results as "strong",
and said they had been achieved in a market that was "slower than
normal".
"Although we are living through a turbulent period for
technology stocks, our own confidence in the future growth of the
company remains high," she added.
As of May 1 this year, FI Group is to begin re-branding its
entire operation to bring all divisions - including Indian IT
subsidiary, IIS Infotech - under one, possibly new, name.