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France — DLSI revenues outperform temporary staffing sector

29 September 2010

Consolidated revenues were up by +25.5% from 55.9 million Euro in H1 2009 to 70.1 million Euro in H1 2010 at DLSI SA (ALDSL:PAR), the France-based temporary and permanent staffing group.

Interim results for the first six months ended 30 June 2010 published today reveal that, excluding acquisitions, revenues were up by 16.5% from 51.1 million Euro in H1 2009 to 59.5 million Euro in H1 2010.


According to the Association of Temporary Staffing Agencies (Prisme) the temporary employment sector in France as a whole grew by 12.8% during the same period, which demonstrates that even excluding acquisitions DLSI has outperformed the market.

Operating profits were up from 493,000 Euro in H1 2009 to 690,000 Euro in H1 2010. However, in order to properly compare operating profit developments, the sums of 148,000 Euro (acquisition expenditure for Alarys) and 121,000 Euro (write-offs for clients of the acquired company) should be added to the H1 2010 figures, which would take H1 2010 operating profits up to 959,000 Euro, an increase of +94.5% when compared to H1 2009.

Profits after tax were down from 128,000 Euro in H1 2009 to 50,000 Euro in H1 2010.

DLSI now generates 32.2% of revenues outside France via its offices in Luxembourg, Germany, Switzerland and more recently Poland.

The group says in a statement "the world economy is improving and so should our revenues. H2 2010 should see significant improvements in terms of our operating profits due to the strong pick-up in the market during July and August of this year. The opening of the public sector for temporary employees should also be good for us."

"DLSI continues to grow by acquisition. At the beginning of September we bought staffing agency Exess Interim, which will increase our presence in the South East of France."

DLSI SA has a network of agencies located throughout France and in Luxembourg, Germany, Switzerland and Poland. The company's subsidiaries include DLSI Luxembourg SA, DLSI GmbH, SIL SAS, MS Interim, Arcadinter SAS and Arcinterim SAS, Exess Interim, Alarys, MB Services SAS, BAT SA, BAT Provence SASAS, Pemsa SA, Elite Interim SAS, E.T. 3000, Marine Interim and DLSI Polska.

In early trading DLSI's shares were down by -1.64%% to 6.60 Euro.