Dedicare (DEDI: SS), a Swedish staffing firm, reported revenue today for the second quarter ending 30 June 2022 of SEK 454.7 million (€41.1 million), an increase of 37.5% compared with the same period last year.

Krister Widström, CEO, said, “A strong third quarter characterized by high demand in all our markets. There is still a great shortage of personnel, but we have been successful both in retaining and attracting new consultants and thereby succeeded very well in meeting our customers' needs. On the last day of the quarter, we acquired Templars Medical Agency in the UK, which gives us access to Europe's largest healthcare staffing market.”

Widström added that the third quarter was the group’s best quarter ever, adding that organic revenue growth amounted to 34.0%.

Revenue growth in Sweden was attributed to the acquisition of H&P Search & Interim AB in March 2022 and an increase in the staffing of nurses and sociologists.

In Norway, all business areas reported record growth. In Denmark, the group said it continued to see increased demand from its customers in all business areas. During the first half of the year, the group also made a strategic investment to hire more internal staff to meet customers' needs.

“The process of integrating and developing life science, via our acquisition H&P Search & Interim, is proceeding according to plan. We have hired more staff and are also developing operations in Norway. The brand will change to Dedicare Life Science in 2023,” Widström said.

Dedicare set a new 52-week high during today's trading session when it reached SEK 108.00 (€9.77). Over this period, the share price is up 23.19%. Shares last traded at 102.00 (€9.23), up 5.92% on the day. The company has a market cap of SEK 719.31 million (€65.11 million).