Marlborough International, the recruitment group, could raise between £50 million and £60 million to make acquisitions, the managing director, Mr David McKenna, said yesterday. He told a press briefing the company would achieve the level of earnings per share predicted by analysts for the year of about 13.5p. "We will stand over that," he said.
The group was actively looking to Britain and Europe, and possibly the US, to make acquisitions; any purchase would be worth at least £10 million. It currently has British and Australian interests following the £21 million acquisition of Walter Hamill last January.
In Ireland, the group is represented by Marlborough, Professional Placement and Walker Hamill. It has 160,000 CVs on file, and employs more than 250 people.
Mr McKenna said outsourcing, where firms contract out part of their business to other companies, would grow from its current level of under 1 per cent of turnover, providing further recruitment opportunities. "We see the continued growth as proof of the possibilities and opportunities that are out there," Mr McKenna said.
The group increased the number of contract placements by 50 per cent to 5,486 this year and its permanent placements by 37 per cent, to 4,758. It placed 878 candidates from overseas, up from 591 in 1997.
The company has a strong regional representation and is now recruiting through its Galway and Sligo offices for 150 people for the Coca-Cola manufacturing facility being built in Ballina, Co Mayo.
Mr Adrian McGennis, general manager, said there was evidence of increased mobility between jobs. Many employees were now changing jobs every three years because of the economic boom. "People feel more bullish and more encouraged to move," he said.
