Phaidon International, Trading Update FY2015/16
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Phaidon International, Trading Update FY2015/16
04 Nov 2016

Phaidon International, Trading Update FY2015/16

Phaidon International, the global micro-specialist recruitment group, is pleased to announce positive financial results for FY2015/16.

Phaidon International has posted strong financial results for FY2015/16. Group revenues for FY2015/16 have grown in excess of £49m, a 48% increase on the previous year and NFI increased by 27%, to circa £32.7m. The group has also posted that EBITDA increased 66%, to over £6.5m*.

Adam Buck, Founder, commented, “2016 has been a tremendous year for the group, and the numbers are testament to that. A key focus of ours has been investing in the future; we launched offices in two new locations - Boston and Chicago, experienced 39% increase in group headcount to 380, further global deployment of our brands and secured our first institutional investment.”

The success of the financial year, partnered with the continued momentum of growth has prepared the business for an even stronger future. It is with this news the Board has announced key personnel changes for the new financial year in November. Harry Youtan has been promoted to CEO, from Managing Director of North America. Alongside Harry, James Brown will step up into the role of Managing Director of Eurasia and Kieran Behan will step up into the role of Managing Director of North America.  Adam Buck, will step into the role of Exec Chairman. Andrew McNeilis, COO, will move into the new position of Chief Commercial Officer. Stuart Batchelor, the group’s Chief Strategy Officer, will step into the role of Non-Exec Chairman, replacing Andy McRae who steps down after three years. The Board would like to thank Andy McRae for his contribution to the Group.

Buck stated, “Harry Youtan has managed to build one of the fastest growing staffing firms in America, recognised both internally and externally, and I am very excited to see the success that follows Harry’s plans for the group.”

Harry Youtan, recently appointed CEO, commented, “I’m very honoured to be picking up the reigns from Adam. We have a remarkable foundation set for building upon the Group’s growth strategy.”

The Board would like to thank the staff across the Group for their exceptional work over the last 12 months and look forward to another successful year in 2017.

 

*Figures unaudited

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