STOCKHOLM, Sweden, Nov. 08, 2004 (PRIMEZONE) -- Poolia AB --
The Poolia Group's operating result remained positive during the third quarter. Operating profit amounted to SEK 10.6 M (loss: 4.8). Operating profit for the first nine months of the year totaled SEK 14.0 M (loss: 25.3). Since restructuring costs of SEK 6.8 M were charged against first-quarter earnings, this means that the comparable operating result for the first nine months of the year was a profit of SEK 46.1 M. For the first time since the beginning of 2001, Poolia Professionals Sweden reported an operating profit during the third quarter, amounting to SEK 4.1 M (loss: 3.2). Poolia's subsidiary Uniflex and Parker Bridge, which was acquired during 2004, continued to show a positive trend during the period. Group sales during the third quarter rose by 67% to SEK 297.5 M. Excluding acquired operations, the sales increase was 22%.
Market and business climate
Demand in the Swedish market is continuing to increase, primarily within industry and warehousing, but positive signs are also visible within trading, IT and the service sector. Poolia has significantly increased its market shares within accounting and outplacement. The demand in the UK market continues to increase, while the German market remains weak.
Poolia Sweden
Poolia Professionals' distinct earnings improvement confirms the positive trend and the company is reporting growth. This is the result of a focus on sales and productivity. The increased demand for industry and warehouse services, combined with Uniflex's increased market shares, contributed strongly to the almost doubling of the subsidiary's sales compared with the year-earlier period.
Poolia's international operations
The Nordic units showed slightly improved earnings, but otherwise their trend was relatively unchanged during the period. Parker Bridge, which was acquired in the UK during 2004, reported its best earnings ever and confirmed the stable trend shown earlier. The operations in Hamburg are showing signs of stabilization, although other parts of the German market remain sluggish.
For further information, please contact:
Erik Strand, President and Chief Executive Officer, tel. +46 8-555 650 60
Mats Pahlson, CFO, tel. +46 8-555 650 60
Poolia is a leading player in the market for professional staffing and is active in approximately 20 locations in Sweden, and in Norway, Denmark, Finland, Germany and the United Kingdom. Operations include the Temporary Staffing, Outplacement/Search and Outsourcing service areas. Poolia is divided into Poolia Professionals and Uniflex. Poolia Professionals provides professional staffing in the Accounting, Bank & Finance, IT, Office, Human Resources, Payroll, Technical, Sales & Marketing, Legal, Healthcare and Life Science service segments. The subsidiary Uniflex is one of the largest companies in the generalist-staffing segment in Sweden. Uniflex offers services in the receptionist, customer service, switchboard, call-center, industry & warehousing and facility services areas.
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