Idox lets TFPL Recruitment go

TFPL Recruitment is up for sale following a year when the information management recruitment market saw a marked shift away from contract to permanent appointments.

The resulting loss of contract income led to a 10.4% fall in TFPL Recruitment’s combined revenues despite the agency reporting levels of permanent recruitment 63.7% above previous years.

Poor trading at beginning of 2006, blamed on a slowdown in local authority purchasing, triggered a restructuring of Idox to focus on its core software businesses and divest the rest.

Information services company Idox acquired TFPL Recruitment in 2004.

Idox CEO Martin Brooks denied that the decision to sell TFPL Recruitment was because of any decline in performance.

“Recruitment is in good shape,” he said. “Last year we had some issues at Idox and all our businesses had a blip. There have been doubts about whether software and recruitment sat together naturally.

“The recruitment division is an extremely good business; it is just not a good fit.”

TFPL Recruitment has strengthened its permanent recruitment team and added its first specialist IT recruiter.

Speculation was rife as to who would buy the agency.

“There has been quite a buzz in the market since it has been for sale. I am not big enough to buy it,” said Sue Hill, managing director of Sue Hill Recruitment .

Hill reported a good year for 2006, with turnover up 22%, contract recruitment up 18% and permanent recruitment up 63%.

Like this story? Spread the news by clicking below:

 del.icio.us     Digg this     reddit!