Swedish staffing firm Uniflex (UFLXB: SS) reported revenue of SEK 279.4 million (€29.2 million) for the first quarter ending 31 March 2017, an increase of 4.6% compared with SEK 267.0 million (€29.1 million) during the same quarter last year.

Uniflex operates in four primary geographies, with revenue during the second quarter broken down as follows:

"In our Swedish operations, the trend continues from last quarter with increased sales and an improved operating margin. The reason for this is the increased focus on marketing and sales. That work will continue in 2017,” Jan Bengtsson, CEO Uniflex, said.

According to the company in Finland, the group continues to grow with good profitability, while Uniflex in Norway reduced its losses compared to last year. “In Norway, we have clients mainly in the construction and oil/gas sectors, which gives us the best results for second and third quarters , while the winter months are worse for us, " Bengtsson said.

"We are not happy with the development of our German company. We are looking for a buyer for that business,” Bengtsson said.

In trading today Uniflex AB traded at SEK 21.50 (€2.25), down 5.7% on the day and 16.34% below its 52-week high of SEK 25.70 (€2.69), set on 26 April 2016. Based on its current share price the company has a market value of SEK 304.10 million (€31.8 million).