Grafton reveals huge surge in turnover and profits for first six months

Grafton Recruitment, one of Irelandís employment solutions companies has announced record trading figures for the six months up to September 2004. The figures, revealed today by Grafton Managing Director for Ireland, Ms Aine Maria Mizzoni, show a growth in revenue of 41% and a surge in profits of 165%.

The financial highlights are as follows:

All-Ireland Revenue up 29%* to 27.4 million (c. Ä40 million)

International Group Revenue up 41%* to 35.4 million (c. Ä52 million)

Group Net Profit up 165%* to 1.5 million (c. Ä2.2 million)
*from the same period in 2003

Welcoming the results, Ms Mizzoni commented, ìWe are pleased with the six month figures and believe that they represent a major endorsement of the companyís ambitious growth strategy throughout 2004. Since my appointment in February, we have focussed intently on building our cross-border capacity and offering fully integrated employment solutions. This strategy has paid dividends in the form of significant new business wins, but it has also seen us generate more business from existing clients.

ìThe process of strengthening and deepening the range of client services on offer from Grafton began in 2004, but it will continue into 2005, when I am confident that this scale of business growth will continue.î

James Kilbane, Chairman of the Grafton Recruitment Group also welcomed the figures: ìThis has been a year of tremendous progress for Grafton both at home and abroad. Aine Mariaís stewardship of the business in Ireland has delivered impressive growth in our home market, while the success of our overseas business and the Spengler Fox network has surpassed all our expectations. During the six months covered by these figures, we saw the accession of 10 new EU states and with them 5 Grafton offices, while our Spengler Fox network established new offices in Belgium and the UAE.

ìAs the benefits of EU membership take root in the economies of the new member states and as our new offices establish themselves in new markets, we are confident that Graftonís international business will add even greater value to these already impressive figures over the coming year.î

Aine Maria Mizzoni also paid tribute to role of Graftonís staff in its success to date: ìWe have a uniquely young and energetic team throughout the Grafton network. It is these individuals who make Grafton Recruitment the compelling service provider of choice, across the island of Ireland and across the world. Todayís trading figures are a tribute to the effort of these individuals and their ability to provide seamless national and international service.î

Grafton Recruitment currently has 51 branches across 14 countries and employs 445 people worldwide.