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IT recruitment player Parity has again confirmed it will meet expectations for FY12 (see Parity steady as she trundles). And following recent cost cutting, reorganisation and investments in digital media services, management now expects ‘good profitability in 2013 for the first time in some years'.
This renewed confidence is being driven by the resources division, which apparently increased the number of contractors by 15% in 2012, and saw a ‘marked increase’ in permanent placements. Talent management (training) also made ‘good progress’ winning 14 new clients in England and Wales. The focus on graduate pre-work training appears to be in demand with Parity securing a renewal with the Department for Employment and Learning in Northern Ireland.
The May 2012 acquisition of digital media specialist Inition performed ‘beyond expectations’ since the purchase, netting the founders their first year earn out in seven months. The Systems division, the other part of Parity’s digital media aspirations, however remained stable. Techlab, the other new venture aimed at ‘integrating emerging technology into innovative business services’ has also agreed in principle a joint venture with Royal Holloway, University of London to develop its social media search algorithm.
