A sign that IT contracting opportunities are on the rise has come in the form of a statement from IT recruiter Nakama Group, which reveals that increased demand in its specialist markets pushed revenue up by 29% in the first half of the financial year, taking the company safely into pre-tax profit territory.
The consultancy’s chairman, Ken Ford, issued a statement declaring that demand from both agency and corporate clients reached a five-year high in 2014, indicating rising confidence in the digital recruitment market.
For the six months to the end of September 2014, the Nakama Group’s pre-tax profit tipped the £222,000 point, representing a spectacular contrast with the £25,000 pre-tax loss it sustained last year. Revenue has climbed from £8.6m in 2013 to £11.1m in 2014.
While the marketplace remains “challenging and competitive,” Mr Ford said, Nakama Group had improved its financial position and generated creditable momentum this year. He added: “Looking forward, we are optimistic for the second half and expect to continue to build on these foundations across the group and further grow net fee income over forthcoming trading periods.”
Umbrella Company techies on the hunt for new IT assignments can draw comfort from the fact that the group’s 32% hike in UK revenue was driven by both contract and permanent business. The group’s Asia Pacific revenue also rose, but by a smaller amount – 20%.
A “shortage of skilled talent within specialised markets” remains a significant issue, according to Mr Ford; however, this also means that employers will continue to seek out skilled contractors to help to deliver business-critical IT projects.