The Helphire Group released interim results for the first half of the year showing turnover of £31.8m. Helphire said this was an increase of 34% on the £23.7m turnover for the same period in 2002.
Gross profits were £14.2m, compared with £10.8m for 2002, giving a margin of 44.6%, said Helphire.
Operating profit remained the same at £1.9m. Helphire said this was due to investment in property and IT infrastructure, as well as recruitment and training costs. Costs were also incurred with setting up a new source of business where referrals did not start until October, said Helphire.
Pre-tax profit was £1.3m, compared with £1.8m for the first half of 2002. Helphire said the drop in profit reflected investment in infrastructure of over £3m.
Chairman Michael J Symons said: "We have had another very satisfactory six months. Business volumes have continued to grow strongly, but we have succeeded in maintaining our high levels of performance and quality of service. Once again our expectations are of further progress in both turnover and profitability."
