Dedicare (DEDI: SS), a Swedish staffing firm, reported revenue today for the second quarter ending 30 June 2022 of SEK 427.9 million (€40.3 million), an increase of 42.9% compared with the same period last year.

 The group said it saw continued high demand in all countries and in all business areas during the second quarter.

Dedicare reports in three segments: Sweden (which now includes Finland operations), Norway and Denmark. Revenue was broken down as follows:

Growth in Sweden is attributable to the acquisition of H&P Search & Interim AB in March 2022, as well as the staffing of nurses, sociologists and psychologists.

In Norway, the increase in revenue is attributable to high demand for services in healthcare as well as all areas.

In Denmark, the increase in revenue was mainly attributable to medical staffing.

The group also reported revenue for the first six months of SEK 829.5 million (€78.2 million), up 46.8% over the previous year.

Krister Widström, President and CEO, said, “The process of integrating H&P Search & Interim AB into the group will continue during the year. The acquisition complements our operations and provides us with a stable foundation for our continued investment in Life Science in the Nordic region and the rest of Europe.”

The war in Ukraine means that the uncertain situation in the rest of the world remains, which may lead to side effects such as cyclical changes, rising inflation, etc,” Widström continued. “As a starting point, Dedicare's assessment is that the business is not cyclically dependent. Dedicare monitors the continued development and makes an ongoing assessment of what effects this may have on the business and what measures may need to be taken.”

Shares in Dedicare last traded at SEK 88.20 (€8.32), up 6.39% on the day and 7.16% below its 52-week high of SEK 95.00 (€8.96), set on 7 June 2022. The company has a market cap of SEK 600.28 million (€56.6 million).