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France — DLSI still profitable in spite of difficult market conditions

24 September 2009

DLSI S.A. (ALDSL:PAR), the French staffing agency group reports interim results for the first six months of the year ending 30 June 2009.

Revenues were down by 22.3% from 72 million Euro in the first six months of 2008 to 56 million Euro in the same period of 2009. Operating profits were down from 2.5 million Euro in 2008 to 493,000 Euro in 2009. The operating margin was reduced from 3.4% in 2008 to 0.88% in 2009.
Net profits were down from 1.2 million Euro in 2008 to 227,000 Euro in 2009. The net margin was down from 1.7% in 2008 to 0.41% in 2009.

The group says in a statement, "with the business environment improving, DLSI should be able to achieve a turnover of 135 million Euro and a net profit of 2.7 million Euro for the whole financial year of 2009."

"The second part of 2009 should show a large improvement in the operating margin due to the fact that turnover has gone up from the month of July onwards. We are also expecting our re-structuring efforts and cost saving activities to show their effects in the second half of the year."

"The acquisition of ELS Interim in January 2009, the openings to temporary employment in the public sector and the efforts of our sales force to open new markets should enable us to up our revenues. Our group continues to monitor the possibilities of external development."

In early trading DLSI shares were down 1.61% to 5.51 Euro.



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