Professional services recruitment firm Sellick Partnership is aiming to almost double its turnover to £100m by 2022 and make a UK acquisition after experiencing continued growth during 2020.
The Manchester headquartered business has reported a turnover of £55.4m for the 12 months to December 31, 2020, while its pre-tax profits stand at £2m.
The previous financial year for Sellick, which also has offices in Derby, Leeds, Liverpool, Stoke-on-Trent, London and Newcastle, was from March 2019 to the end of that year after it Samsic – one of Europe’s largest business service providers – took a majority stake in the business.
For that period, the company’s turnover was £44.4m and its pre-tax profits were £1.8m.
A statement signed off by the board said: “The political and economic climate, together with the Covid-19 pandemic, has continued to challenge the group but Sellick Partnership has continued to see positive growth and expansion across certain specialisms.
“Sellick Partnership continued to invest in the training and development of its staff and new technology.
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“The uncertainty of the Covid-19 pandemic has meant clients have been less likely to commit to permanent hires and have opted for temporary solutions in the short term. This has resulted in a change to the sales mix in 2020.
“This, coupled with the pandemic affecting higher margin specialisms harder, has meant gross margin has temporarily fallen.
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“However with the UK roadmap out of lockdown and the early success of the Covid-19 vaccine we expect the demand for permanent recruitment to increase as confidence returns to the jobs market.”
On the future, the company added: “The business has had a fantastic start to 2021 in Q1 and expects this to continue as the recruitment market opens up further into the summer trading period.
“Through past investment, the group is in an excellent position to capitalist on a buoyant market through experienced and highly trained employees and an infrastructure to allow agile working in a post pandemic UK.
“Sellick Partnership is actively looking for a UK acquisition to further spread the geographical reach of the business offering and generate increased annual sales to c.£100m from 2022.”