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Poolia: Poolia's Interim Report 1 January - 31 March 2010
STOCKHOLM--(April 28, 2010)--Regulatory News:
Johan Eriksson, Poolia's MD and CEO, comments on the financial results:
- Revenues totalled MSEK 308.3 (353.5)
- The operating profit was MSEK 1.4 (18.4)
- The profit before tax was MSEK 1.4 (18.9)
- The profit after tax was MSEK 0.5 (13.5)
- Earnings per share totalled SEK 0.03 (0.79)
- Cash flow from operating activities was MSEK -11.0 (-1.2)
Since the fourth quarter of 2009 the market for staffing services has gradually improved. With the trend that we have seen during the first quarter 2010, we can confirm a continued rise in demand in the areas of both temporary staffing and permanent placement. As permanent placement is one of our focus areas just now, it feels particularly pleasing that this activity is booming so early in the recovery phase. In 2009, when the permanent placement ratio declined significantly, it became especially clear to us how important it is for our margins. We believe that the pattern that we are now seeing will also continue during the second quarter, which indicates a positive trend.
Last year we were forced to make cutbacks in the workforce. The growth that we are currently seeing in the market means that we are now expanding the organisation again so that we can better meet our clients' needs. It should be emphasised that the rise in demand will not be immediately visible in the profit and that last year's first quarter was relatively unaffected by the recession.
The market in healthcare staffing has not been as favourable, but declined during the first quarter in both Sweden and Norway. This indicates that this segment is later in the cycle than our other activities.
We have continued to develop a new business area, Outplacement, since autumn 2009. This business area is still a small one in Poolia, and only operates within the Swedish business.
Our focus continues to be on offering our clients the competence and quality that are Poolia's hallmark. The rationalisation measures that we implemented last year mean that we can now continue work to improve our profitability. With the recession behind us, we are optimistic about the future and look forward to a rewarding year of collaboration with all of our clients and candidates.
Poolia's business concept is to provide companies and organisations with the skills that, either temporarily or permanently meet their needs for qualified professionals. Poolia specialise in temporary staffing and permanent recruitment of professional staff and Outplacement in our focus areas of Finance & Accounting, Financial Services, Office Support, IT & Engineering, Sales and Marketing, Human Resources, and Executive. Through its subsidiary, Dedicare, Poolia is also active within the health sector in Sweden and Norway. Poolia is listed on the NASDAQ OMX Stockholm AB since 1999.
This information was brought to you by Cision http://www.cisionwire.com
Johan Eriksson, CEO
Tel. +46 8 555 650 60, +46 70 616 74 47
Lotta Nilsson, CFO
Tel. +46 8 555 650 64, +46 73 944 50 64
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