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View All NewsSweden – Dedicare reports 28% increase in revenue for second quarter
Swedish staffing firm Dedicare (DEDI: SS) reported revenue for the second quarter ending 30 June 2017 of SEK 196.4 million (€20.6 million), an increase of 28.3% compared with SEK 153.1 million (€16.2 million) during the second quarter last year.
| (SEK millions) | Q2 2017 | Q2 2016 | Change | Q2 2017 (€ millions) |
| Revenue | 196.4 | 153.1 | 28.3% | 20.6 |
| Operating Profit | 24.4 | 15.6 | 56.4% | 2.5 |
| Profit After Tax | 19.2 | 11.6 | 65.5% | 2.0 |
“Dedicare shows continued strong development in the second quarter of 2017,” Stig Engcrantz, CEO of Dedicare, said. “The group showed Increased sales and good profitability in Q2. Both Sweden and Norway had good growth during the quarter. The increase in revenue is primarily due healthcare and social work.”
"Digitisation has continued to give us continued opportunities to develop our way of finding new candidates for our assignments. During the quarter, we started a larger digitalisation project to further strengthen our position in the market.”
"Demand for our services is increasing in both Sweden and Norway. The lack of skills in healthcare, pedagogy and social work increases, are giving Dedicare good opportunities to continue growing in quality and profitability,” Engcrantz said.
| (SEK millions) | Q2 2017 | Q2 2016 | Change | Q2 2017 (€ millions) |
| Sweden | 142.6 | 111.0 | 28.4% | 14.9 |
| Norway | 53.8 | 42.1 | 27.8% | 5.6 |
The group also reported revenue for the first half of the year as follows:
| (SEK millions) | H1 2017 | H1 2016 | Change | H1 2017 (€ millions) |
| Revenue | 397.9 | 288.3 | 38.0% | 41.8 |
| Operating Profit | 49.7 | 25.4 | 95.6% | 5.2 |
| Profit After Tax | 39.1 | 19.0 | 105.7% | 4.1 |
Dedicare stated that it plans to achieve growth organically and plans to expand to other markets in Europe mainly through acquisitions.
In trading today Dedicare traded at SEK 130.50 (€13.70), up 1.95% on the day and 20.67% below its 52-week high of SEK 164.50 (€17.27), set on 21 March 2017. Based on its current share price the company has a market value of SEK 901.57 million (€94.6 million).