BRG posts fulsome financial results
Berry Recruitment Group (BRG) anticipates continued strong growth through 2022 as it releases its latest financial figures.
The group’s accounts to the end of 2021 showed its profits before taxes, depreciation and amortisation (EBITDA*) up 49 percent on the previous year to £2.27m.
The business, which includes the brands Berry Recruitment, Wild Recruitment, Wild Berry Associates and BuzzHire, also recorded a 17 per cent increase in turnover to £68.8m.
BRG, which is headquartered in St Albans, Herts said it anticipates continued organic growth as well as more targeted acquisitions.
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: “The dual impacts of Brexit and the pandemic threw up difficulties that had never before been experienced.
“However, BRG’s recovery has been dynamic thanks to the leadership, strategy and the sheer graft of our staff across nearly 40 locations in England and Wales.
“Prior to the pandemic BRG had undergone successive years of rapid expansion.
“When Covid hit, the group immediately explored business development opportunities in new and growing sectors.
“Decisive action was also taken to reduce overheads and manage cashflow, and recovery was swift.
“Former clients have returned but there is still some way to go - and the war in Ukraine is likely to impact on the economy and is of concern.
“However, there are high levels of employment and a recurring difficulty is finding enough candidates for the roles.
“Overall, these factors lead us to remain bullish about the rest of the year and beyond. Our ambitious targets are being hit and we know now how we can pivot strategically and quickly due to rapidly changing circumstances.”
BRG concentrates on seven specialist sectors; office and professional, warehouse and manufacturing, driving, construction, catering, technical and rail.
*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.