Swedish staffing firm Dedicare (DEDI: SS) reported revenue from continuing operations of SEK 135.2 million (€14.6 million) a decrease of 0.3% compared with SEK 135.6 million (€14.6 million) compared with the same period last year.

"The Swedish market for healthcare staffing has been good during the first quarter of 2016. Revenues from the Swedish operations increased by 5.7% compared to the same quarter last year,” Stig Engcrantz, CEO of Dedicare, said. “According to the Employment Service, the shortage of health workers has never been greater in Sweden. The shortage of health workers has contributed to higher wages, which put pressure on margins. In Sweden, we have started a new business in the quarter, Acapedia, operating within teacher staffing for school and kindergarten, "said Stig Engcrantz, CEO of Dedicare.”

"In Norway, Dedicare was awarded new agreements with Helseforetakenes Innkjöpsservice (HINA) for the hiring of nurses which are expected to improve the chances for profitability. The shortage of health workers in the neighbouring countries of Sweden and Denmark, combined with both a recession in Norway and a weaker Norwegian krone has made it more difficult to recruit nurses from Sweden," Engcrantz said.

"We continue to work to improve productivity, enhance recruitment efforts and to increase customer focus to achieve organic and profitable growth in the coming quarters," Engcrantz said.

Dedicare’s business is now focused on healthcare staffing, following the divestment of the company’s Norwegian care business in 2014. It reported revenue during Q1 2015 as follows:

In trading today, Dedicare traded at SEK 46.50 (€5.08), down 7.89% on the day and 13.89 % below its 52-week high of SEK 54.00 (€5.90), set on 25 April 2016. Based on its current share price, the company has a market value of SEK 364.64 million (€39.82 million).