Revenues at the Irish-owned international nursing recruitment firm TTM Healthcare topped the €50m mark for the first time last year, despite profits falling by nearly 13%.
Newly-filed accounts for the Ennis-based company show record revenues of €50.7m for the 11 months to the end of last December. However, pre-tax profits fell by 12.8% to €2.33m.
TTM Healthcare is headed by former Irish boxing international and EY Entrepreneur of the Year award finalist Brian Crowley, who established the business in 2008 when he was aged just 25.
The company employs 196 people across offices in Ennis, Dublin, London and Preston and places around 3,400 healthcare professionals in temporary roles and more than 1,300 in permanent jobs each year.
In 2016, Irish private equity firm Broadlake took a 30% 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 €450,000 and this followed €1.4m in dividends to its owners in 2016. The firm recorded post-tax profits of €2m after paying corporation tax of €267,428.
Pay to key management personnel totalled €164,153 last year.
The company said that during 2018, a greater focus has been placed on creating innovative delivery models “and leveraging our experience with a greater utilisation of technology”.
TTM had shareholder funds at the end of last year of €7.6m while the company’s cash pile decreased from €867,107 to €357,470.