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Record number of new HR deals boosts profits for outsourcing company Northgate

Monday, September 03, 2007

The profits of the HR division of software and outsourcing company Northgate have been boosted due to record number of new deals.

Six new contracts worth over £1m, including a shared services payroll deal, has led to profits reaching £35.5m, according to the company’s annual report.

To add to this, Northgate also grew its profits through recent acquisitions. The company bought a controlling stake in international HR services group Arinso in May 2007.

Revenues for the year increased by 6% to351.7m, with post-tax profit up 18% to £25.1m.

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