Newcastle's NRG makes significant investment for future stability
An investment programme, including the launch of its recruitment outsourcing solution, greenbean, has created a platform for growth at NRG.
In its financial year ending December 31, 2017, the Newcastle-based recruitment specialist embarked on a business development strategy to meet its client base’s needs and in anticipation of key influences on its marketplace.
The investment programme, which supressed operating profits to £12k, included investment in future proofing the business and the costs associated with the launch of greenbean by NRG.
NRG is predicting profit growth for 2018 and 2019 with a forecast Adjusted EBITDA of £500k for its current financial year.
Lorna Moran, NRG chair and founder, said: “Throughout our 40-year history, we have always remained agile and willing to make bold decisions to deliver investments as we anticipate the changing trends and challenges in our marketplace.
“Our success has always been aligned to our ability to change whilst staying true to professional values and in the last year we have implemented significant change led by a team with the drive and the ambition for NRG’s next growth phase.”
Established in September 2017, greenbean by NRG is a Recruitment Process Outsourcer (RPO) which provides ‘plug-and-play’ project solutions to businesses, including SMEs, to support the recruitment and on-boarding of new employees.
Since its launch, greenbean by NRG has secured many new clients.
Further new clients to the greenbean brand include a resourcing contract in the healthcare sector and, starting January 2019, the greenbean team will be sourcing medically-qualified assessors for a major government outsourcer.
This programme is being led by NRG’s leadership team, which has seen three new board appointments this year. Mark Smales joined as finance director, while Leanne Chambers and James Carrs have been promoted to the executive director team.