June 29th 2010 - Concept IT reports best performance for 2 years
Concept IT is delighted to report a strong upturn in permanent gross profit sales since May 2010. During the recession although Concept have experienced a steady increase in contract sales, permanent placements since August 2008 have been up to 80% lower than normal volumes pre-recession.
The company is however pleased to report significant improvements in Permanent recruitment activity since April 2010. Concept IT is set to report in June the best gross profit sales in Permanent placements since June 2008.
Commenting on the results, Chris Short, Managing Director says
“The last 2 years have been very challenging trading conditions. We have experienced significant reductions in permanent placements since August 2008. Fortunately over this period our contract sales have increased over 2009 and are set to continue to grow over the 2nd half of 2010. The real positives we have seen recently are improved activity in permanent recruitment across both London and Midlands offices. We have noticed a steady increase in permanent vacancies registered since April this year, with many long standing clients returning to focus on permanent headcount activity after over 12 months of recruitment freezes.
I am delighted to see some return to normality in June with the company recording it best permanent sales in nearly 2 years. This supplemented by a strong growth in contractors on billing has also resulted in our best gross profit sales as a company since June 2008. Our pipeline in July for permanent placements also looks strong.”
Although these result are positive indicators, we still need to adopt some degree of caution as we move forward. We have seen improvements over the last couple of months, but it is too early to say we are back to normal trading conditions. I will feel a lot happier if we can continue to demonstrate improved results in 6 months time.”
