Global recruitment firm Visuna has signalled the first green shoots of recovery in its core markets, following a strategic restructure implemented in response to a prolonged industry downturn.
Navigating a Challenging Global Market
The North East-based business, which operates from its headquarters in Washington as well as bases in the US, Middle East, and Australia, specialises in energy and technology recruitment. The company, formerly known as Oil Consultants Ltd, faced significant headwinds throughout 2024 and 2025.
Fragile commodity prices and deliberate production cuts by OPEC nations led to key project delays, suppressing demand in Visuna's primary sectors. This downturn impacted its operations worldwide, including in previously strong territories like Saudi Arabia, Asia Pacific, and the United States.
Financial Performance and Strategic Shift
Despite the challenging climate, newly filed accounts show Visuna's turnover grew to £109.5 million for the year ending December 2024, up from £103.5 million the previous year. However, operating profit dipped from £8.1 million to £7.7 million, with pre-tax profits falling from £7.1 million to £6.4 million.
In 2024, the group transitioned to become an employee-owned business through a trust, with the original owners selling 80% of their shares. This was followed in 2025 by a restructuring that included redundancies at its Washington head office. Leadership states this move created a leaner operation without compromising client service.
Regional Highlights and Funding
Director Richard Fielding noted in the accounts that while UK growth slowed, other regions showed resilience. Oil Arabia Contracting LLC in Saudi Arabia delivered $4.4 million in year-on-year growth, while Visuna PTY Limited in Asia Pacific grew by $4.9 million.
The 2024 financial documents reveal the majority of the firm's turnover was derived from Asia and Africa, with the UK and Europe playing smaller roles. Sales activity was funded through cash reserves from its global entities, which include subsidiaries in Houston, Texas, Malaysia, and China. The use of an invoice discounting facility reduced, with borrowings falling to $3.47 million in 2024 from $4.37 million in 2023, a trend bosses expect to continue.
Outlook: Signs of a Turnaround
The firm, which now employs around 55 people and has expanded from its oil and gas roots into wider energy and technology fields, is cautiously optimistic. Mr Fielding reported that the fourth quarter of 2025 showed the 'shoots of recovery' and is expected to be the company's strongest period of the year.
"In addition we have onboarded several new clients and the outlook for the first half of 2026 continues to suggest that the market is starting to turn," he stated. This marks a potential turning point for the business, which has grown significantly from a turnover of £17.9 million back in 2012.
