Berry Recruitment Group (BRG) has predicted ‘significant’ growth this year after a record end to 2020 as it recovers strongly from the Covid-related downturn.
Its annual accounts to the end of 2020 recorded a turnover of £58.8 million and profits before taxes, depreciation and amortisation (EBITDA*) of £1.52 million.
BRG, which is headquartered in St Albans, Herts, predictably saw a sharp slump in income following the first lockdown. But it recovered strongly in the second half of the year with its Quarter Four results its best ever.
The group quickly adapted to the new employment landscape and branches re-focused on sectors that grew or emerged due to the pandemic. They were able to re-deploy their temporary workers to different roles and supplied key workers in critical services.
BRG’s necessary new strategies allied with the return of former customers led to a strong start to 2021 which it believes will continue through the year.
The business is backed by Tony Berry, former chairman of Blue Arrow and Manpower, and Ian Langley, chairman of infrastructure specialist Airswift Holdings.
Tony, chairman of BRG which was founded in 2009, said: “Last year was one of the most difficult I have ever experienced in business. The deliberate closing down of much of the economy is something none of us has ever had to deal with before. However, our staff reacted quickly and their actions not only arrested the decline but what they put in place has seen us recover quickly – indeed, we had a record fourth quarter in 2020.”
“Through the start of 2021 we have exceeded our targets and turnover is above what we had in the months just prior to the pandemic. If these trends continue we should surpass the figures we posted for 2019. Indeed, our priority is to find candidates for an increasing number of roles that are emerging.”
“Our new clients picked up during the lockdown have remained and those which were hit hard – in the catering, hospitality and automobile sectors for example – are now returning.”
BRG concentrates on seven specialist sectors; office and professional, warehouse and manufacturing, driving, construction, catering, technical and rail.
In 2019 its turnover was £74.4million with an EDITDA of £2.5 million, and based on recent performance the group can expect to return to 2019 levels this year.
*Financial analysts consider that EBITDA (earnings before interest, taxes, depreciation and amortization) gives a useful and more consistent reflection of how the business is performing. It looks at the underlying operating results and is considered to be a profitability metric that is closely related to cash generation.