 Ma Foi registers 65% growth in H1 2006
India’s largest staffing and HR services provider, Ma Foi Management Consultants Ltd, declared a bottom line growth of 120 per cent in H1 2006. The company closed H1 (Jan- June 2006) with gross revenue of Rs 144.65 crore, against Rs. 87.9 crore for the same period last year, registering a growth of 65 per cent. Net revenue was at Rs 43.5 crore, against Rs 26.7 crore 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 the 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 and developed assessment solutions to develop 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 20,324 in H1 ended June 2006, retaining its leadership in the high-end specialised staffing segment. Total placements stood at 96,694, 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, set up 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, seven 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 3,000 a month.
In a significant departure from norm, the state-owned Panchayat and Rural Development Department of the 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 programmes, 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 programme 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, Velankanni, 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 programme in their respective trades.
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 (GDC) in Malaysia for a leading RPO player from the 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 mandates, one from a leading staffing majors in Australia and the other from a UK-based education staffing major.
For further details on Ma Foi, please visit
www.mafoi.com
R Rangaraj
|
