Companies

Kforce announces steady Q4 revenue growth

The firm is also predicting increasing profitability for FY 2021

Kforce, a provider of professional staffing services and solutions, has announced a 5% year-on-year increase in revenues to $354m for the quarter ended 31 December 2020.

The group, which specializes in finance and accounting, revealed that income from continuing operations for 2020 also increased from $54.6m to $56m, a rise of 2.7%.

The most notable change was seen to the Kforce’s technology business, which grew almost 6% sequentially and resumed a year-on-year growth of nearly 1%.

David Dunkel, CEO at the company, said: “Our results in this line of business have continued to significantly outpace the overall market expectation and we will continue to prioritize allocating capital to this business.”

Joseph Liberatore, president at Kforce, said: “Our technology and FA businesses continued to experience an increase in consultant assignment growth, which only strengthened as we progressed through the fourth quarter.

“Over the last several years, we have significantly invested in our managed teams and solutions capabilities to bring a higher-value, differentiated solution to our clients, and we are experiencing tremendous success.”

Looking ahead to Q1 2021, the group predicted a further rise in revenue to $364m, with its gross profit margin expected to grow 0.2% to 27.6%.

Moreover, it expects to achieve improved profitability levels for the entire financial year, despite 2021 holding two less billing days than the year just seen.

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