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France – DLSI Q1 revenue drops, improvement expected

22 May 2013

French staffing firm DLSI SA (ALDSL:PAR) reported first-quarter revenue of €38.153 million, down nearly -10% from the €42.220 million a year ago. But the recruiter beat the overall market decline which, according to figures by staffing association Prisme, was -12.5%​​ in the quarter.

“Our evolution is in line with the French market over this period,” DLSI said. Looking ahead, the firm expects recruitment activities to pick up in the second half of the year after April figures showed an improvement in revenue.

Staffing Industry Analysts does not expect the French staffing market to return to growth this year. Many staffing firms have struggled with flagging client demand in the country. Earlier this year, DLSI posted a -10% decline in 2012 full-year revenue despite revenue growing in markets outside France.

In early trading, the company’s share price fell by -1.2% to €4.04, up nearly +8% from a year ago. Based on this stock price, the firm has a market value of €10.39 million.

DLSI is ranked among the 20 largest staffing companies in France and has a network of branches throughout France, Luxembourg, Poland, Switzerland and Germany. The firm provides temporary employees in sectors including insurance, banking, finance and real estate.

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