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Germany — Amadeus FiRe sees temporary revenue improve from March

22 July 2010

Amadeus FiRe AG (AAD:GER), the temporary and permanent staffing group, has today released half year results for the six months ended 30 June 2010.

Amadeus has 20 offices in Germany as well as subsidiaries in The Netherlands and the United Kingdom.


Q2 revenues were up from 27 million Euro in 2009 to 28.2 million Euro in 2010. Profit before tax was up from 3.5 million Euro in 2009 to 3.8 million Euro in 2010.

H1 revenues were down by -2.5% from 55.4 million Euro in 2009 to 54 million Euro in 2010. Profit before tax was up by +5.3% from 6.5 million Euro in 2009 to 6.8 million Euro in 2010.

H1 revenues from temporary staffing services were up by +4% from 38.1 million Euro in 2009 to 39.5 million Euro in 2010. Whilst revenues in this segment in Q1 2010 were still -3% below Q1 2009, they were up by +11% in Q2 2010 due to increased demand from the accounting, office, banking and IT-services sectors. 

H1 revenues from interim/project management were down by -39% from 7.6 million Euro in 2009 to 4.7 million Euro in 2010.

H1 revenues from permanent placements were down by -2% from 3.6 million Euro in 2009 to 3.5 million Euro in 2010.

H1 revenues from training, which is only offered in Germany, were up by +4% from 6 million Euro in 2009 to 6.2 million Euro in 2010.
 
On 30 June 2010 Amadeus FiRe employed 1,900 employees, up by +11% compared to the previous year.
 
Amadeus's President, Peter Haas, commented "at the beginning of Q3 demand for our core services of temporary staffing continues to be on the rise. We are expecting above industry average results for this year."

Amadeus say in a statement, "the future situation in the labour market is currently being seen more positively than it was at the end of 2009. With capacity utilisation gradually on the rise again, the risks of a setback are diminishing further."

"Given the general economic and industry-specific outlook, the Amadeus FiRe Group's business prospects for the rest of this financial year remain positive. The decline in the temporary staffing order situation at the start of the year has increasingly improved over the course of the first half-year. The number of orders has exceeded the previous year's level since March 2010. The order situation in the other service sectors is stagnating or rising slightly."

In early trading Amadeus's shares were down by -0.07% to 22.98 Euro.

 

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