DLSI Group, a France-based staffing provider, published its annual financial statement for the year ended 31 December 2023 showing a fall in profits. The group published its results on Thursday after markets closed.

The company reported Q4 and full year revenue earlier this year. The latest results published last week showed further profit information.

The 2.81% revenue decline in France during the full year was mainly due to recruitment difficulties in numerous business sectors. International sales, up 14.42% at current exchange rates, were generated mainly in Switzerland, accounting for 40.3% of consolidated sales. The other countries in which the group operates are Germany and Luxembourg. Growth was driven by the Swiss entities, as well as the nuclear and investment businesses, which together accounted for over 9.69% of consolidated sales.

DLSI saw a goodwill impairment of €560,000 on the Luxembourg subsidiary.

Despite a resilient 2023, economic difficulties continued to weigh heavily, the group stated. Inflation remained high, European economies slowed down against a backdrop of rising interest rates, and persistent tensions over skills requirements.

DLSI added that the situation is set to continue into 2024. However, DLSI Group said it is mobilising to support its temporary workers in their role as creators of skills and is strengthening its commitment and resources in favour of training. The nuclear sector saw a more marked increase of 22% at the start of the year. Other activities in France and abroad should see a similar pace to 2023, while maintaining the group's policy of vigilance on margins.

The group remains confident in its ability to achieve its growth targets in 2024.

DLSI shares last traded at €13.80, down 5.48% on the day and 5.48% below its 52-week high of €14.60, set on 28 March 2024. The company has a market cap of €37.24 million.