A Newcastle-based recruitment company is set to relocate to a newly refurbished office development, following an “exceptional year” where turnover and profits increased.
Central Employment provides recruitment and training services to clients in sectors such as manufacturing, industrial and pharmaceutical.
For the year ended 30 September 2022, turnover grew from £25.6m to £25.9m, while gross profit jumped from £3.7m to £4.6m. Net profit was maintained at £1.4m.
The publication of its results coincides with the company securing a larger head office in Portland House, which it will move to in the autumn.
The refurbishment of the former Newcastle Business Society headquarters was named Refurbishment of the Year at Insider’s North East Property Awards 2023, and has secured a number of prominent tenants including Parklane Plowden Chambers.
Currently based at St Mary’s Place, Central Employment has a team of 46, and supplies about 1,000 employees to companies on a weekly basis.
It has also seen a continued rise in demand for its permanent employment recruitment services as vacancies across the region and UK continue to rise.
Finance director Will Palmer said: “These financial results reflect another exceptional year for us with a strong and encouraging performance across all our business interests.
“We have placed in excess of 5,000 temporary and permanent workers into these employment sectors over the reporting period, and we continue to look to recruit permanent members of staff to join the growing Central Employment team here in Newcastle, whether that be at graduate level, sales, admin or executive level.
“These are very exciting times for all the team. We have recently signed a ten-year lease to move our headquarters to Newcastle city centre-based Portland House, which will provide our staff with more modern and open plan office space and allow us to grow our headcount in line with our growth and expansion plans over the coming years.”
Palmer added: “We have invested in and updated our technology and CRM systems internally and have a broad and growing client base looking to recruit quickly and efficiently with the right balance of skill set and profile, as we focus on our business strategy and development going forward.
“As a thank you for all their hard work, we were very pleased, after positive results in our previous financial year, to have awarded all of our employees, full and part-time a favourable annual bonus of at least 10 per cent of their salary.”