Successful half year for FI Group

With turnover up by 40 per cent and pre-tax profits of £15m, technology services supplier, FI Group reported a successful six...

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.

Read more on IT supplier relationship management

Start the conversation

Send me notifications when other members comment.

Please create a username to comment.

-ADS BY GOOGLE

SearchCIO

SearchSecurity

SearchNetworking

SearchDataCenter

SearchDataManagement

Close