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Sweden — Resurs CNC revenues down by -27.3%

26 October 2009

Resurs CNC AB (RESB:STO), the Sweden-based employment agency group, today announces financial results for the three months ending September 2009.

Revenues were down by -27.3% from 4.6 million Euro in Q3 2008 to 3.34 million Euro in the same period of 2009. The company made an operating loss of -500,000 Euro compared to an operation loss of -330,000 Euro in 2008.
Loss before tax was -490,000 Euro in Q3 2009 compared to a loss before tax of -270,000 Euro in the same period last year.

Peter Palmqvist, President and CEO, says in a statement "in the month of September we have seen our order intake stabilising after the lows of Spring and Summer. This, combined with our cost saving programmes implemented during Q3 means that conditions have improved for us."

"During this year we have reduced headcount by 25%. However, we estimate that the market will remain weak throughout 2009."

Resurs operates through three subsidiaries: IT-Resurs, active within information technology; Resurs Bemanning, recruiting people within the fields of finance, administration and sales, and Ekonom Resurs, engaged in the economic sector. The Company has its offices in Stockholm, Gothenburg, Malmo, Vasteras and Linkoping.
In early trading Resurs's shares were up by 4.29% to 2.43 Swedish Kronor.



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