RECRUITMENT firm Core-Asset Consulting has achieved a record profit helped by strong growth in revenues.

The Edinburgh-based firm made more than £500,000 after tax in the year to June 30. It lost £89,000 in the preceding period. Revenues rose 45 per cent in the latest year to around £14.5m, from £9.98m last time.

Founder Betsy Williamson said the firm had been rewarded for focusing on its core specialisms in the financial and professional services markets.

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“We’re at a pivotal point in time in Scotland as many of our traditional home-grown firms and brands are disappearing,” observed Ms Williamson. She added: “It is the multinational “supertankers” at one end and the boutique independents at the other extreme that are flourishing.”

In the 2017-18 accounts filed for Core-Asset Consulting in March, Ms Williamson said that cost-cutting rather than Brexit would continue to be the dominant theme affecting Scotland’s financial and professional services sectors.

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She suggested Brexit could result in a spike in hiring as a result of transformations that clients might need to undergo.

The loss Core-Asset Consulting sustained in the 2017-18 financial year is the only one it has recorded. The company cut costs and achieved efficiencies after recruitment activity fell in the first half of that year. The market picked up in the second half of the year.