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French staffing firm DLSI SA (ALDSL:PAR) reported a -12% slump in sales in the nine months to September with revenues decreasing to €137.8 million from €156.2 million a year ago. In constant currency, revenue declined by -9%.
DLSI said that international business held up in the nine-month period with revenue rising by +1%.
But the French staffing market remains sluggish for many staffing companies with Adecco reporting a sharp drop in third-quarter sales today. France-based reporter Groupe Crit also recently said that revenue in the three months to September was down by -3%.
Staffing companies in the country have been struggling from a deterioration in market conditions this year with temporary billings seeing months of decline. Staffing Industry Analysts downgraded its 2012 forecast for France from originally +5% growth to a -2% decline.
DLSI, ranked among the 20 largest staffing companies in France, 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.
In early trading, the company’s share price was down -1% to €2.95, a -52.4% fall from a year ago and +8.1% above its 52-week low of €2.73 seen in October 2012. The firm has a market value of €7.57 million.