Swedish staffing firm Uniflex (UFLXB: SS) reported revenue of SEK 314.7 million (€32.0 million) for the fourth quarter ended 31 December 2017, an increase of 3.2% compared with the same quarter last year.

As of 1 January 2018, Uniflex has sold all shares in the German subsidiary Uniflex Personal GmbH for a purchase price of SEK 1.2 million (approximately €122,100). The result effect of the transaction amounts to SEK -1 million (-€101,750) and is charged to earnings in the fourth quarter.

Uniflex operates in four primary geographies, with revenue during the fourth quarter broken down as follows, including discontinued operations in Germany.

Jan Bengtsson, CEO Uniflex stated that it is “gratifying that in Sweden we increased profits compared with the previous year.”

"In Norway, both sales and profits are increasing significantly,” Bengtsson said. “This is partly due to the improvement of the Norwegian economy in the areas in which we operate and partly because we have succeeded in our sales efforts.”

"We have now sold our German company and can therefore focus on our profitable markets,” Bengtsson said.

In trading yesterday Uniflex shares closed at SEK 23.50 (€2.39), up 9.3% on the day. Uniflex AB set a new 52-week high earlier during yesterday’s trading session when it reached SEK 24.40 (€2.48). Over this period, the share price was up 20.83%. Based on its current share price the company has a market value of SEK 401.05 million (€40.8 million).