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Dutch staffing firm DPA Group NV (DPA: NL) reported revenue of €71.1 million for the year ending 31 December 2013, an increase of +9% compared with revenue of €65.1 million in 2012. The company achieved a gross profit of €16.7 million, up by +10% from €15.1 million a year ago. Net income for the period rose by +257% to €4.2 million from €1.2 million in 2012.
Eric Winter, CEO of DPA Group, commented: “During the past year, DPA has made further progress in achieving our growth strategy that we initiated in 2011. This is aimed at creating added value for clients and professionals. Expansion through organic growth and acquisitions remains important, in terms of cost efficiency, and investment in the necessary markets and expertise. Following signs of economic recovery, we expect to strengthen our market position in 2014.”
During 2013 DPA acquired three companies; Credit Force, Cauberg-Huygen Consulting engineers, and Technipower. According to the company’s financial statement, the newly acquired businesses contributed directly to earnings. These acquisitions further strengthened DPA’s position in the provision of technical professionals.
In the company’s Q3 statement, DPA Group announced that they were ceasing to operate their DPA Education and DPA Human Resources business segments. Both businesses were deemed to no longer be financial viable.
DPA started merger talks with Netherlands-based technology company ICT Automatisering in June 2013. However, the offer was fully withdrawn in February 2014 following protracted negotiations and ICT shareholders voting in favour of an alternative merger opportunity.
In trading today, the company’s share price increased by +4.9% to €1.79, a rise of +19.2% compared with a year ago. Based on its current share price, the company has a market value of €77.5 million.