Restamax Oyj, a Finland-based company specialising in the labour hire and restaurant businesses, reported revenue today for the second quarter ended 30 June 2018 of €73.2 million, an increase of 67.9% when compared to the same period last year.

The group’s labour hire business comprises Smile Personnel Services (Smile Henkilöstöpalvelut Oy), one of Finland’s largest labour hire companies.

Turnover in the group’s labour hire business was €31.6 million, up 80.9% when compared to the same period last year.

Last year, Smile Personnel Services bought a majority stake in Finland-headquartered Adicio Oy, a recruitment firm in the construction industry.

Figures for Restamax are reported below. 

The group operates in two business segments: Restaurant and Labour Hire. Turnover was broken down as follows.

The Restaurant segment saw a boost due to the acquisition of restaurant company Royal Ravintolat.

Turning to the labour hire segment results, Aku Vikström, CEO, commented, “In the second quarter, Smile supplemented its organic growth with  acquisitions, buying 80% of the construction-sector hired labour company Adicio Oy and purchasing the Jobio companies specialising in industrial, construction and logistics labour hire services as well as Job Services Two Oy and Job Services Three Oy, which operate in the Helsinki Metropolitan Area.”

Smile also signed a staffing services contract worth €100 million with Restamax, making Smile responsible for Restamax's labour hire, direct recruitment and payroll services.

“In June, we announced that we would continue to evaluate the listing of Smile on the Nasdaq Helsinki Ltd Stock Exchange. The listing would support Smile’s balance sheet and further accelerate its growth. As part of the evaluation work, we have met potential new investors, and we will release more information as progress is made,” Vikström said.

As of last trade Restamax Oyj traded at €12.00, down 4.0% on the day and 5.51% below its 52-week high of €12.70, set on 16 July 2018. Based on its current share price the company has a market value of €236.15 million.