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Dutch staffing firm AamigoO (AMS:AMIGO), which is planning to rebrand as Source Group, saw profitable trading conditions in the first three months of the year. Gross sales from continuing operations increased by an annual +14% to €44 million in the last quarter.
Gross profit rose by €0.2 million to €0.9 million year-on-year in the first quarter. The firm said that a cut in personnel costs and recent framework agreements had led to the increase in sales.
In April, the firm sold its Corso brand and other subsidiaries, with the sale bringing a “substantial” improvement to its balance sheet. The recruiter also said that at the next annual general meeting on 20 June, shareholders will vote on changing the company’s name.
AamigoO specialises in placing self-employed, temporary staff and freelancers into sectors such as ICT, financial services and administration. In November last year, the company reported that gross sales in the first nine months of 2012 increased to €299.8 million from €106.4 million a year ago, helped by a recent acquisition.