Tech recruiter Morson has credited contractor recruitment with boosting its profits and helping them to outperform their rivals. In fact, Morson have stated that the skilled contractors that they provide for infrastructure projects have helped them to cope “far better” than their industry rivals.
Morson has seen their pre-tax profits rise from £4.1m to £4.9 million for the six month period to June with an overall turnover of £219.9m, up from £212. They currently have 9,000 techies on their books.
Morson has commented that this “solid trading” results from new orders received within the rail, nuclear and defence sectors. They have also acquired new clients, namely EADS, Thales and Ericsson while BAE Systems and Airbus have extended existing contracts. The company believes that this is a sign that they should expect “further progress” in the coming year. This is even more likely given the potential for new contracts through the Olympics and the access to European opportunities through EADS.
Ged Mason, chief executive of Morson, said: “We do believe that the provision of outsourced technical services and technical resource is a resilient market and remains strong with good long-term prospects. In particular, the market benefits from skill shortages and the ongoing investment in long-term infrastructure that is required in the United Kingdom.”
With regards to their income, fees received from permanent recruitment accounted for just £400,000, down 50 per cent. In fact permanent recruitment represented a mere 2.2 per cent of Morson’s net fee income. By contrast, contract recruitment accounted for £14.4m of the firm’s total £181.1m in received fees.
Despite existing debts, which have lessened, Mason stated that the firm is “very much seeking to position the business to gain market share.”