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Sweden — Uniflex Q4 2009 operating income up by 78% in Q4

09 February 2010

Uniflex AB (UFLXB:STO), the Sweden-based staffing group, has announced preliminary results for the fourth quarter of 2009 and the full-year ended 31 December 2009.

Uniflex specialise in providing staffing solutions to the industrial, construction, warehouse, transport & logistics and commercial/office sectors. The company operates throughout Sweden and has two offices in the UK.

Net sales were up by 5% from 19.41 million Euro in Q4 2008 to 20.30 million Euro in Q4 2009. Operating income was up by 78% from 543,000 Euro in Q4 2008 to 967,000 Euro in Q4 2009.
Full-year net sales fell by -25% from 90.39 million Euro in 2008 to 67.61 million Euro in 2009. Full-year operating profits fell from 5.34 million Euro in 2008 when the operating margin was 5.9% to 1.57 million Euro in 2009 when the operating margin was reduced to 2.3%.

Uniflex CEO Jan Bengtsson said "it is encouraging that sales are now growing again and our operating margin is close to our long-term goal of 5%."

"Our strategy can be summed up as speed and flexibility at the lowest price, which works even in a recession", Bengtsson added.
In early trading Uniflex's shares were unchanged at 89.00 Swedish Kronor



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