Staff at a Newcastle recruitment company have been given a windfall bonus worth at least 10% of their salaries, following a strong trading year.
Independent recruitment specialist Central Employment has posted strong financial results for year ending 30 September 2022, with turnover staying consistent at £25.9m, up marginally from £25.7m, and gross margins increasing from 15% to 18%. Operating profit rise from £1.837m to £1.884m. Profit for the year came in at £1.449m, up from £1.437m.
The company provides recruitment and training services for some of the largest businesses and brand names in the North East, and has recently announced it is on the move into new office space, relocating from St Mary’s Place at Haymarket to Portland House in the centre of the city. The move, which is set to take place this autumn, will see the firm combine its recruitment and training divisions, providing a platform to grow the business further.
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The business employs 46 permanent staff and supplies approximately 1,000 employees to the temporary employment sector on a weekly basis. It used its published accounts to highlight plans to expand in the next 24 months, while staff will receive around 10% of their salary as a bonus, with payments averaging £2,500.
Will Palmer, finance director at Central Employment, said: “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% of their salary.”
The recruitment specialists predominantly supply workers to the manufacturing, industrial and pharmaceutical sectors, along with a wide network of business across all STEM industries. It has also seen a continued rise in demand for its permanent employment recruitment services as vacancies and employment opportunities across the region and UK continue to rise.
Mr 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 10-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.”
