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Grafton Recruitment

By John Simpson

Published 06/08/2007

Grafton recruitment international, together with its wholly- owned subsidiaries, is probably the largest northern ireland registered company that is active in international placing and recruitment.

The level of business or, alternatively, the number of job- seekers assisted has risen dramatically in the last three years.

Turnover in 2006 was more than double the level recorded in 2003. Operating profits increased again in 2006, although after deducting net interest charges which were higher in this year, pre-tax profit in 2006 was down by 10%.

In the most recent year Grafton purchased the Mary B Cremin business in the Republic of Ireland. In balance sheet terms, the purchase added over £2.9m to the value of intangible assets and was financed by a parallel increase in bank borrowing.

Direct employment by the company (excluding people assisted into jobs elsewhere) has risen steadily from under 340 three years ago to reach a new peak of an average of 738 in 2006.

Shareholders' funds, as stated in the balance sheet, have almost doubled in three years and, at the end of July, were valued at £4.7m.

Belfast Telegraph

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