IT Human Resources plc announces its 2010-2011 Unaudited Preliminary Results

IT Human Resources plc, one of the UK’s leading independent human capital resourcing and software solutions specialists, have announced their preliminary results for the financial year ended 31st March 2011. Group turnover came in at just under £24m, whilst profits were broadly in line with expectations and historic trading. A massive investment in people and sales infrastructure during the year are reflected in both PBT and cash reserves – of which both remain extremely healthy.

Sean Gallagher, Managing Director commenting on the announcement said: “I am delighted that our performance in the last year has been robust and consistent, especially given the continued economic challenges. A strong fourth quarter and our continued expansion means we are well placed to make 2011-2012 a truly exceptional year.

Turnover for the year has very much flat lined from FY09-10 and the small headline decrease is a reflection of currency movements over the year as the Euro (where we conduct over 50% of our business) has weakened against sterling. However, cash flows remained strong and in these uncertain economic times it is good to know that we remain cash generative and are well and truly cash positive.

The Strategy of the Board continues to be how best to use our strong financial position to expand and grow both our recruiting and consulting business. The Sales Team has doubled in size in the last year as we continue to focus on niche markets, thus cementing our position as a truly specialist independent agency.”