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The Netherlands — DPA Flex Group Gross Margin down to 19.3%

21 August 2009

DPA Flex Group (DPAFX:AEX), the specialist staffing solutions firm, announces a decrease in turnover by 24% from 36.8 million Euro in the first six months of 2008 to 28 million Euro for the same period in 2009. The gross margin was reduced from 25.7% in the first half of 2008 to 19.3% in the same period this year. EBITDA deteriorated from -300,000 Euro to -1.6 million Euro.

DPA Flex Group have reduced professional employee numbers by 27% from 710 to 515.


Roland van der Hoek, Chairman of the Board, said "the costs are more in line now with the turnover, cash flow is improved and debt is reduced significantly. This gives us a stronger starting position for the coming trading period and prepares us for the times when the market picks up again."
In early trading shares were unchanged at 2.60 Euro.

 

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