Swedish staffing firm Uniflex (UFLXB: SS) reported revenue of SEK 311 million (€29.9 million) for the second quarter ended 30 June 2018, an increase of 6.5% compared with the same quarter last year.

On 4 June 2018, the boards of Poolia AB and Uniflex AB announced that they proposed that the companies merge through a merger. The boards have unanimously decided on the merger forms based on a common merger plan. The merger is carried out by Uniflex in Poolia, replacing Uniflex shares with new shares in Poolia. The merger is expected to be complete in October 2018. Uniflex said the merger is expected to provide a cost savings of SEK 20 million (€1.9 million) annually with full effect from autumn 2019. The costs of the merger are estimated to amount to SEK 20 million (€1.9 million), and most of it will be charged in 2018. These costs will be distributed between Uniflex AB and Poolia AB.

Uniflex sold its German subsidiary in January 2018. As a result, operations now consist of three operating segments, the geographical areas Sweden, Norway and Finland.

Revenue during the second quarter was broken down as follows.

Uniflex said that its Swedish operations had incurred costs of SEK 1 million due to system adjustments and consultancy efforts in relation to General Data Protection Ordinance (GDPR). Jan Bengtsson, CEO Uniflex, said the costs of GDPR are expected to decrease in the following quarters.

In Norway, the group said that its increased sales can be attributed to a combination of the company's increased sales efforts and an improved Norwegian economy.

As of last trade, Uniflex traded at SEK 21.10 (€2.03), down 1.40% and 19.89% above the 52 week low of SEK 17.60 (€1.70) set on 14 July 2017. Based on its current share price the company has a market value of SEK 289.43 million (€27.8 million).