Saturday 15 December 2018

TTM in rude health as its profits soar by 35pc to €2.68m

Brian Crowley, Chief Executive of TTM Healthcare
Brian Crowley, Chief Executive of TTM Healthcare

Gordon Deegan

Global healthcare recruitment firm, TTM Healthcare is boxing clever with pre-tax profits at soaring by 35pc to €2.68m last year.

The Ennis-based firm is headed by former Irish boxing international and EY Entrepreneur of the Year finalist Brian Crowley.

The profits followed revenues increasing by 15pc - going from €43.32m to €49.57m in the 12 months to the end of January 31 last.

Mr Crowley established the firm in 2008 aged just 25 and the business has enjoyed exponential growth in business since its first year.

The company's 152-strong workforce across its network of offices in Ennis, Dublin, London and Preston supports 3,000 workers finding temporary roles and over 2,000 healthcare professionals finding permanent work each year.

In 2016, Irish private equity firm Broadlake took a 30pc stake in the firm, supporting the TTM group's strategy to triple revenues and double the workforce over five years.

The accounts show that TTM Healthcare last year paid out €1.4m in dividends to its owners. According to the directors' report "turnover increased by 14pc during the year primarily due to continued investment in people and services leading to significant growth in all financial and operational metrics within the business".

The firm's gross profit increased from €8.68m to €10.84m and is attributable to the increase in turnover.

The company's operating profits last year increased by 36pc, going up from €2.12m to €2.89m. The directors state that "this is attributable to the increase in turnover and a focus on operational efficiencies in the fiscal year 2017".

The directors state that they are satisfied with the performance and result for the year.

Staff costs at the firm in the 12 months to the end of January 31 last increased from €34.65m to €42.79m, with 1,139 staff on its books.

Accumulated profits at TTM Healthcare Ltd totalled €5.9m.

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