Parity Group progressing fresh focus on public sector

Recruitment and professional services firm Parity Group said in an update on Thursday that one of its key areas of investment in 2023 was the public sector.

The AIM-traded company, which was holding its annual general meeting, said it had successfully expanded its opportunities within existing frameworks, and had also added new frameworks to broaden its potential client base.

It said the strategic move allowed it to tap into new avenues for growth, and establish stronger relationships within the public sector.

In addition to the public sector, Parity said it had been actively engaging with new clients in the private sector, and had already secured several contract assignments with those new clients.

While focusing on expanding its clientele, Parity said it had set a target to enhance its permanent recruitment capability in 2023.

However, current economic uncertainties had presented challenges in building on the achievements of the prior year.

Despite those obstacles, the firm said it remained optimistic about the future potential for growth in the permanent recruitment sector.

Parity Group said it believed that, in the long run, permanent recruitment would play a crucial role in its overall business growth strategy.

“The company expects to continue to build momentum, and with the groundwork laid in the first half of 2023, continue to grow our pipeline of opportunities with existing and new customers,” said executive chairman Mark Braund.

“The board remains committed to returning the business to growth.”

At 1015 BST, shares in Parity Group were flat at 4.5p.

Reporting by Josh White for Sharecast.com.