Core-Asset Consulting, the Edinburgh-based recruitment and headhunting specialist, has moved back into the black.
The firm’s latest results will show that it banked more than £500,000 in post-tax profit having suffered a modest loss of £88,500 in the previous financial year.
Founder and managing director Betsy Williamson said the turnaround had seen the business enjoy its most successful year since it was launched in 2005.
She said: “The results speak for themselves and to say I am proud of what the team has achieved doesn’t even begin to do them justice. There was never any doubt we were going to deliver outstanding results. In fact the only reason we were in the red in the previous year was because of the scale of our investment in the business to make this happen.
“That was the only loss we have posted since I launched the company and there was never any doubt that it was simply a stepping stone on the path to our best ever year.”
She added: “We are now in better shape than we’ve ever been to meet the challenges the financial sector, in particular, is facing.”
While Core-Asset – which these days has a 30-strong team – was initially focused on the asset management sector, it has since broadened its offering with dedicated accounting and finance teams and also works in Scotland’s competitive legal sector.
Williamson added: “We’re at a pivotal point in time in Scotland as many of our traditional home-grown firms and brands are disappearing.
“Instead – and across most of our disciplines – it is the multinational ‘supertankers’ at one end and the boutique independents at the other extreme that are flourishing.
“By specialising, we’ve been able to keep closely attuned to the changes and the challenges, working with our clients to provide long-term valuable employees or short-term solutions.”