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France – DLSI expects a French recovery in Q2

30 April 2012

The France-based temporary and permanent staffing group DLSI SA (ALDSL:PAR) increased revenue by +19% to €205.2 million in 2011 from €172.7 million a year ago. Operating income was up +60% at €5.8 million from €3.6 million, resulting in a higher operating margin of 2.85% (2010: 2.11%).

In the financial results published late on Friday, the firm also revealed that net income for the full year 2011 increased by +4.4% to €1.5 million from €1.4 million in the previous year.

The firm said that the French market experienced a downturn in 2011 but the Group is now expecting a recovery after the second quarter of 2012. Given these conditions, the firm anticipates achieving a higher turnover of €210 million for the year 2012.

In April last year, the firm’s Switzerland-based subsidiary PEMSA, which specialises in the provision of technical personnel, acquired the Swiss staffing agency Select Emplois.

DLSI has a network of employment agencies located throughout France, Luxembourg, Poland, Switzerland and Germany. The firm provides temporary employees for its clients in a range of sectors, including insurance, banking, finance and real estate.

In early trading today, the company’s share price was up marginally +0.21% at €4.70, down -45% from a year ago but +24% above the 52-week low of €3.78 set on 13 February 2012. This values the company at €11.92 million.

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