The company reported a 20% increase in net fee income during the first half of FY26, driven by higher average fees and continued demand for senior-level placements across global consulting, professional services, logistics, environmental services and AI intelligence businesses. Ellam explained that growth came despite senior leadership preparing for the IPO, highlighting the strength of the underlying recruitment team and operating model.
He said the public listing on the Aquis Exchange, alongside the company’s OTCQB trading in the United States, is central to scaling the business. According to Ellam, the PLC structure combined with a Bitcoin treasury strategy enables Connecting Excellence Group Plc to attract high-performing executive recruiters using performance-based share incentives.
Discussing the Bitcoin strategy, Ellam said investors are backing “a growing operating business and cash flowing business, but on the upside, they are using all surplus cash to buy more of the Bitcoin, which is compounding at a significant growth rate.” The company currently holds more than 52 Bitcoin and has launched XCE Bitcoin bonds to access additional capital markets funding.
January marked the strongest recruitment month in the company’s history, with senior placements across AI supply chain intelligence, professional services, environmental compliance and IoT data solutions.
Proactive: Scott, very good to speak with you. The first half of full year 26 saw a 20% increase in net fee income and higher average fees. What’s driving this growth and how are you choosing which mandates to focus on?
Scott Ellam: The results posted cover mid-2025 to the end of 2025, which was when we were preparing for the IPO. The senior team was focused on IPO preparations, so the performance reflects a recruitment team concentrating on individual markets and clients, driving revenues forward.
We expect to exceed those results this year. Growth has come from clients across business advisory and global consulting firms, professional services firms, integrated services businesses, environmental services, logistics, and AI intelligence companies looking for senior-level talent.
Our consultants identify candidates suitable for vice president, director and C-level roles, manage the shortlist process, negotiate salaries acceptable to both candidate and client, and complete placements at senior levels across those industries. That is where the revenue comes from.
Proactive: You mentioned the IPO on the Aquis Exchange and trading on the OTCQB in the United States. How has going public changed your approach to growth and investor engagement?
Scott Ellam: Going public is key to scalable growth. Combining PLC status with an active Bitcoin treasury strategy and an experienced capital markets team drives operational revenue growth and cash flow.
Being public allows us to leverage our status and Bitcoin balance sheet to attract high-billing executive recruiters from competitors. We can offer performance-based share options alongside salary and commission to attract ambitious revenue-generating staff and strengthen operating cash flows.
We recently began trading on OTCQB in the US and attended Strategy World in Las Vegas, meeting investment banks and venture capital firms operating in the Bitcoin treasury sector. The structure combines executive recruitment revenue with a Bitcoin capital markets strategy, enabling us to build relationships with both investment and hiring partners. We have also opened a division to meet demand for talent in the Bitcoin and digital asset space.
Proactive: You hold over 52 Bitcoin and have launched a Bitcoin bond. What role does Bitcoin play in your long-term financial strategy, and how have clients and investors reacted?
Scott Ellam: For clients, we are running the same service as always. They have been supportive and see the structure as innovative. Clients in the Bitcoin and digital asset sector align closely with our strategy.
From an investor perspective, they are investing in an executive recruitment firm that has delivered 35% compound annual growth over four years. We plan to accelerate that growth. Investors see exposure to a growing operating and cash-flowing business, while surplus cash is used to acquire more Bitcoin.
We can access capital markets through equity raises in the UK and overseas, as well as XCE Bitcoin bonds. Over the next three to five years, we want a balance sheet positioned with low or beneficial debt and a significant Bitcoin holding to strengthen the company and enable future acquisitions.
Proactive: January marked your strongest month ever for recruitment activity. How do you plan to maintain momentum, and what should shareholders look for?
Scott Ellam: On New Year’s Eve, we signed XCE Bitcoin bonds and issued an invoice for a senior US placement. January exceeded expectations from a revenue perspective following the IPO in December.
Placements included a US sales director for an AI supply chain intelligence company, a UK managing director for a facilities management firm, a US director for a global business advisory company, a US managing director for a professional services consultancy, a vice president in environmental monitoring and compliance, and a European account director in IoT data solutions.
We made international placements across multiple sectors uncorrelated to Bitcoin. We believe this is the first traditional business that will grow directly as a result of a well-executed Bitcoin treasury strategy supporting the balance sheet.
