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France – DLSI sees marked improvement from start of year

07 August 2013

French staffing firm DLSI SA (ALDLS: PAR) reported a drop in revenue during the first half of the year partially offset by a marked improvement in revenue during the second quarter. Following on from a poor first quarter which reported a -10% fall in revenue, the second quarter of 2013 reported revenue of €46.9 million, on par with the same period last year.

Revenue for H1 2013 was €85.1 million, compared with €89.2 million during the same period in 2012, equating to a drop of -4.62%. Despite the fall in revenue the company outperformed the market; which, according to figures from staffing association Prism’Emploi, declined by more than -9%.

Company turnover outside France grew by +4% during the first half of the year, compared with a year ago. Turnover outside France represents just under 30% of total company turnover and reported revenue of €25.2 million. Turnover for DLSI’s Polish subsidiary increased half-year on half-year by +40%.

The company is optimistic, moving forward, that the positive growth since April will continue into the third quarter. DLSI is ranking among the 20 largest staffing companies in France, according to research by Staffing Industry Analysts.  It has a network of branches throughout France, Luxembourg, Poland, Switzerland, and Germany.

Despite the more optimistic performance in recent months, the company’s share price fell yesterday by -0.9% to €4.55, up by +50.22% compared with a year ago. Based on its current share price, the company has a market value of €11.56 million.

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