Spencer Ogden announces year end 2018 Financial Results.
‘Scalable’ business well set for coming year.
Spencer Ogden’s operating profit for the year ended December 31st 2018 was up by 200 per cent, in comparison to 2017 at £3.6 million, the company have announced. Turnover saw an increase to £108 million in 2018, with just over £31.6 million in net fee income.
The company says the growth is due to a renewed focus on the business’ four key markets in energy and infrastructure, with all four markets showing NFI growth in 2018, led by a strong position in renewables which globally grew by over 25 per cent in the year. Spencer Ogden is now on track to deliver its plan for continued organic growth within niche sectors in key locations for 2019 and beyond.
2019 has already seen the launch of a new Hong Kong office enabling further headcount growth. Spencer Ogden has also recently launched a presence in Melbourne after the success of its Perth entity that is also poised for further growth this year. Stateside, Spencer Ogden will launch a new 60-person office in New York in April and has refitted its Denver office to enable more headcount growth.
Spencer Ogden’s CEO, Bradley Lewington commented: “It is great to see that our focus on the right energy and infrastructure markets is helping us build a reputation for excellence with clients and candidates alike. Being recognised as true experts in our field, able to navigate compliance complexities and proactively find niche candidates sets us apart from our competition. 2019 has already seen year-on-year growth of 15 per cent and an increase in sales headcount by 20 per cent.”
Spencer Ogden believes there are significant opportunities in all of its markets, with continued investment in people to achieve more consistent and balanced growth.
“2019 and beyond represents Spencer Ogden’s biggest opportunity since inception. We now have a scalable platform for consistent growth with superior infrastructure to support that growth. We plan to grow to 500+ heads in the next two years mostly through organic growth and our award-winning learning and development offering.”