Business Irish

Tuesday 24 October 2017

Job slump sparks 25pc fall in turnover for Manpower

John Mulligan

John Mulligan

A slump in employment levels last year and a clampdown on recruitment resulted in US-owned recruitment firm Manpower racking up a pre-tax loss of over €1.4m in Ireland last year as the company saw business contract.

Accounts for Manpower Ireland reveal that the firm's turnover slumped 25pc to €31.8m in 2009.

The loss posted last year followed on the heels of a €1.8m pre-tax loss the company recorded in 2008, while the accounts also show that the company had a shareholders' deficit of €2.2m at the end of 2009. It had accumulated losses of almost €5.3m at the end of last December.

Last week, a report said that the number of new jobs advertised in Ireland rose by more than 25pc between August and September. The Morgan McKinley Irish Employment Monitor showed that there were 6,674 professional vacancies in September, up from 5,300 in August.

The IT sector has proved the most active, while September witnessed the highest number of new professional job vacancies since October 2008.

Manpower Group recently reported that third-quarter revenues rose 19pc to $5bn, while its earnings per share jumped to 62c following a 67c loss in the corresponding period in 2009. The company said that its markets in the US, Germany and the UK had performed "particularly well".

Irish Independent

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