Hydrogen Group revenue up 67 per cent in 2010

RECRUITMENT specialist Hydrogen Group reported a 67 per cent jump in its full-year revenue yesterday, with 2010 figures reaching £123.4m.

The group’s net fee income rose 64 per cent to £27.6m and pre-tax profits increased to £2.5m, compared with £0.3m before exceptional costs in 2009.

Hydrogen chief executive Tim Smeaton said significant investments had been made in the company throughout 2009 and 2010, and that the latest figures showed they were starting to pay off.

“Our key plan over the past few years has been the internationalisation of the business,” Smeaton told City A.M. “And the 138 per cent increase in international net fee income shows we’re moving in the right direction.”

Hydrogen has offices in Singapore and Sydney as well as London, and plans to open a new office in Hong Kong in the first half of this year.