Greatfleet says it has continued to benefit from a dedicated focus on its core financial services and legal marketplaces and has witnessed organic growth across these sectors.

Chairman Jonathan Hill (pictured) told its Annual General Meeting: “In March 2007, Greatfleet raised £2.52m (before expenses) through a placing of new ordinary shares with institutional investors. The net proceeds of the placing have principally been applied to strengthening the company's balance sheet, growing the company's legal recruitment business and taking advantage of overseas opportunities in certain emerging markets.

“The Board is pleased with the progress made by Greatfleet in 2007 and following the completion of the placing the company is now able to operate from a stronger platform. During the first four months of 2007 market conditions remain favourable. There is a continued competition for talent within the financial services and legal marketplaces and as a result the company's candidate attraction strategy remains central to a significantly more efficient recruitment offering.”

The company also announced that Christopher French, non-executive director, has retired from the Board. French was the founder of Fleet Search & Selection and oversaw the business until the reverse takeover of Greatfleet by Longbridge International in December 2005.