Swedish staffing firm Uniflex (UFLXB: SS) reported revenue of SEK 313.7 million (€32.5 million) for the third quarter ending 30 September 2017, an increase of 3.1% compared with the same quarter last year.

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

Operations in Sweden generated operating profit of SEK 12.6 million (€1.3 million), up from SEK 10.6 (€1.1 million) last year while operations in Norway generated operating profit of SEK 1.2 million (€0.1 million) compared with SEK 0.9 million (€0.0 million) last year. Meanwhile, operations in Finland generated SEK 0.3 million (€0.0 million) compared with SEK 0.2 million (€0.0 million) last year and operations in Germany generated operating profit of SEK 0.2 million (€0.0 million) compared with SEK -0.4 million last year (€0.0 million).

"In Sweden there is still a shortage of labor, but our efforts to find new consultants have been successful,” Jan Bengtsson, CEO Uniflex, said. "It is gratifying that we are able to grow again and that profits increase compared with the previous year.”

"In Norway, profits increased compared with the previous year, and the turnover rate in relation to the previous year is decreasing compared with the beginning of the year. Work on finding new customers continues as planned and during the quarter it has had a good impact on our sales efforts,” Bengtsson said.

"In Finland, we have satisfactory profitability, but we need to expand, so we are opening our second office. It will be in Ostrobothnia,” Bengtsson said. Ostrobothnia is in Western Finland with the majority of the population speaking Swedish.

"In our German company, we have improved profit for the first time, but we continue to monitor developments closely," Bengtsson said.

In trading Friday Uniflex shares closed at SEK 21.00 (€2.18), up 0.47% on the day. Based on its current share price the company has a market value of SEK 364.6 million (€37.8 million).