Recruitment Investment Group (RIG) is set to branch out into new sectors after recording a 342% increase in profits.

The company, in its second year, has seen profits rise to £3.8m, and turnover increase by 314% to £14.9m.

The firm has added a further five new companies, (RIG Occupational Therapy, RIG Social Care, RIG Enforcement, RIG Commercial Police Recruit and RIG HR) to its portfolio in the last 12 months.

Chairman Peter Flaherty (pictured, right) said: “Our expectations this year are to more than double the size of the business again. We already have the people in place to achieve this and are now recruiting for the growth that we are aiming for in 2006.”

Bryan Lloyd (pictured, left), RIG’s chief executive, has seen a healthy increase in the contractor growth rate, with numbers up to 570 at the end of February. “We believe that we can sustain this growth by continuing to add new markets,” he said.