Ma Foi Registers 64% Growth in H1 2006 - Growth Fuelled by Greenfield India Entry Businesses
India’s largest Staffing and HR services provider, Ma Foi Management Consultants Ltd. declared a bottom line growth of 120 % in H1 2006. The Company closed H1 (Jan - June 2006) with gross revenue of Rs 144.65 Crores as against Rs. 87.9 Crores for the same period last year, registering a growth of 65%. Net revenue was at Rs 43.5 Crores as against Rs. 26.7 Crores for the corresponding period last year.
(PRWEB) August 3, 2006
India’s largest Staffing and HR services provider, Ma Foi Management Consultants Ltd. declared a bottom line growth of 120 % in H1 2006. The Company closed H1 (Jan - June 2006) with gross revenue of Rs 144.65 Crores as against Rs. 87.9 Crores for the same period last year, registering a growth of 65%. Net revenue was at Rs 43.5 Crores as against Rs. 26.7 Crores for the corresponding period last year.
The growth was fuelled by high value, innovative HR solutions like Interim Management coupled with India entry businesses. The Company’s strategy for global presence has paid rich dividends with the significant increase in the Global Corporates from US, UK and Germany moving into India, thereby creating a pull for permanent and temp-staffing across levels.
Noteworthy among such innovative solutions, is a leading European auto major for whom Ma Foi has designed, developed and is in the process of delivering assessment solutions for developing their dealer network across India.
Ma Foi has also entered into a two year contract with a leading Middle East based Aluminium producer to provide end to end services relating to cross border recruitment of over 900 personnel.
The Staffing division of Ma Foi scaled up the deputee count to 20324 in H1 ended June 2006, retaining its leadership in the high end specialized staffing segment. Total placements stood at 96694, spread across 31 countries, including 703 at GM and above levels, till date. H1 witnessed a sharp increase in the revenue from BFSI, IT, Energy and Manufacturing segments.
A landmark development in H1 was the launch of “Ma Foi Job Centre”, first of its kind retail outlet, setup across various locations in key metros, where job seeking candidates can walk in and apply for jobs, in their immediate locality. In the pilot phase, 7 job centres were commissioned in Mumbai and 25 more are planned by end 2006. By next year, this retail thrust is expected to double placements from the current 3000 a month.
In a significant departure from norm, the state owned Panchayat and Rural Development Department of MP Government signed up with Ma Foi for turnkey recruitment of personnel in Administration, Support, Engineering function and Rural development Projects.
Ma Foi Academy, the career training business of Ma Foi continued the process of expanding its Business Partner network in the North and Western markets within India. Apart from the regular programs, Ma Foi Academy successfully completed a “Youth Employable Skills Training” for Tsunami affected victims in Mayiladuthurai (South India) in partnership with the NGO - CCF India. This program was crafted to train the unemployed youth belonging to the Tsunami affected coastal districts of Tamil Nadu. CCF India selected 88 students with the help of their NGO Partners from six different clusters namely Nagapattinam, Karaikal, Veilanganni, Chennai, Cuddalore, Kanyakumari and then were segregated into nine different trades depending on their vision, skills and choice. Each of them was put through a 20 day skill training program in their respective trade.
Ma Foi Global Search Ltd. continued its aggressive growth track with closure of 12 CEO placements primarily in the BFSI, Consumer Retail and Energy segments. With increasing acceptance of Interim Managers in the Indian market, this service offering gathered momentum during H1 primarily in the manufacturing and Consumer Retail segment.
Ma Foi Consulting Solutions Ltd. added yet another service offering - Compliance Practice, to its HR Consulting service portfolio and the first assignment by this practice in the form of a HR Due Diligence study was executed for a US based leading IT and Communication service provider. The HR BPO commenced three shift operations in India in accordance with growth in business.
Recruitment Process Outsourcing business fuelled growth – the most significant development coming in the form of a Global Delivery Centre in Malaysia for a leading RPO player from UK. This GDC is strategically located to identify and recruit best talent from the SAARC countries and will be the largest cross border assignment anchored by Ma Foi till date.
MinVesta, the IT arm of Ma Foi, bagged two large HR software development mandate, one from a leading staffing majors in Australia and the other from UK based an Education staffing major.
Notes to Editors:
Ma Foi is a 13-year-old public limited company. Having started in 1992 at Chennai with a focus on recruitment services, Ma Foi has grown to become the largest HR services provider in India. Ma Foi is committed to offer people and people related services, enhancing the net worth of human capital. Currently Ma Foi has a presence in 8 countries through 71 offices – India, UAE, UK, Singapore, Sri Lanka, Malaysia, Oman and the US, and over 1334 clients including 163 Fortune 500 Companies. Ma Foi had posted revenue of Rs.213 Crores for the year ending December 2005.
For further details on Ma Foi visit www. mafoi. com
Vedior is one of the world’s largest recruitment companies and is a full-service recruitment provider with a diversified portfolio of brands targeting a broad range of industry sectors. Annual sales for 2005 were €6,851 million. From its global network of offices spanning Europe, America, Australasia, Asia, the Middle East and Africa, Vedior offers temporary and permanent recruitment as well as a number of complementary employment-related services such as outplacement, HR outsourcing, payrolling and training. Vedior has a leading market position in the provision of professional/executive recruitment in sectors such as information technology, healthcare, accounting, engineering and education. In order to meet client requirements for all categories of personnel, we also have a significant global network providing administrative/secretarial and light industrial recruitment.
For further details on Vedior, visit: www. vedior. com
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