Swedish healthcare staffing company Dedicare AB (DEDI: SS) reported revenue for the first quarter of SEK 201.5 million (€20.9 million), an increase of 49% from SEK 135.2 million (€14.6 million) in Q1 2016. 

“Dedicare continues to grow with good profitability. We reported an operating margin of 12.6% (up from 7.2% last year) for the first quarter,” Stig Engcrantz, CEO of Dedicare, said.

"The increase in revenue is primarily due to health and social work. This quarter delivered the highest turnover ever,” Engcrantz said.

“Dedicare has increased the number of employees to 600 people compared to just over 440 the same quarter last year. We continue to deliver high quality to our customers which is the reason for improved growth and profitability. We focus and work constantly to be effective in our work to meet our clients and consultants' interests," Engcrantz said. “Dedicare also sees a continued strong demand for services in health, social work and education in Sweden and Norway.”

Dedicare’s business is now focused on healthcare staffing, following the divestment of the company’s Norwegian care business in 2014. It reported revenue by country for Q1 2017 as follows:

In trading today, Dedicare traded at SEK 145.50, down 4.28% on the day and 11.55% below its 52-week high of SEK 164.50, set on 21 March 2017. Based on its current share price the company has a market value of SEK 1.07 billion.