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France - DLSI's profits soar, seeks acquisitions

04 October 2011

Revenues were up by +46.2 % from 70.1 million Euro in H1 2010 to 102.5 million Euro in H1 2011 at DLSI SA (ALDSL:PAR), the France-based temporary and permanent staffing group. Like-for-like, revenues were up by +13.9%.

Interim results for the six months ended 30 June 2011, published last night, reveal that revenues generated in France amounted to 78.7 million Euro whilst revenues generated outside of France (Germany, Switzerland, Poland and Luxembourg) amounted to 23.8 million Euro.

The group therefore now generates 23.2% of its revenues outside of France and expects this percentage to increase during H2 2011.

Operating profit was up by +362.6% from 690,000 Euro in H1 2010 to 2.5 million Euro in H1 2011.

Profit before tax was up by +769.4% from 281,000 in H1 2010 to 2.2 million Pounds in H1 2011.

Profit for the year was up by a massive 2,066% from 47,000 Euro in H1 2010 to 971,000 Euro in H1 2011.

The group says in a statement "these positive figures are the result of our careful management, our know-how and our cost control efforts."

"We are confident that we can achieve total revenues of 200 million Euro during the full financial year of 2011 with net profits of 2.6 million Euro."

"We continue to explore the possibilities of acquisitions."

The intention to make acquisitions mirrors the recent ambitions of French peers Synergie and Groupe Crit, who have both expanded their international operations over the past 12 months.

Despite the strong results, in early trading DLSI's shares were down by -3.65% to 6.60 Euro.

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