Candle forecasts strong results

Stan Beer
Sunday, 18 June 2006 14:02

IT People - Recruitment

IT and white collar recruiter, Candle Australia Limited, has advised that subject to June trading, it expects to increase profits after tax by over 60% to approximately $11.6 million, a record result. According to Candle, the strong result been driven both by recent acquisitions and to organic growth.

Candle MD Rob Collins said: "The Lloyd Morgan acquisition has proven to be a very successful move. It has grown its market share in its home base in Melbourne and continues to expand its client base in Brisbane. In addition the expansion plans for Sydney are well underway. Our goal is to make Lloyd Morgan a major national, if not international senior management and executive recruitment brand.

"During the year we also acquired Parker Bridge and Choice IT. Both of these businesses have exceeded our first year expectations and continue to perform ahead of plan. Organic growth has also been a feature of the result to date. Our core businesses have also grown in their respective markets."