Recruitment firm Job Solution Sweden announced today in an update that revenue and operating profit are expected to grow in the first quarter of 2024.

The group’s preliminary figures for Q1 show that revenue for the group amount to approximately SEK 66.2 million (€5.6 million), up 305% over the prior year. Operating profit is up 83%. The group also posted EBIT of approximately SEK 6.6 million (€0.5 million), compared to SEK 3.6 million (€0.3 million) the year prior, which corresponds to an operating margin of approximately 10%.

Job Solution said pro forma for the group in summary, in preliminary figures for the company's first quarter 2024, revenue amounted to SEK 90 million (€7.7 million) with an EBIT of SEK 8.3 million (€0.7 million).

In December 2023, Job Solution Sweden announced it had entered into an agreement regarding the acquisition of 100% of the shares in A-Talent Group Sweden AB and A-Staffing Group Sweden AB including their subsidiaries.

The company joined A-Staffing Group Sweden AB and A-Talent Group Sweden AB on 1 February and ServeOffice AB and Executive Partners Scandinavia AB on 2 April. This means that the company will only report the group's combined companies in the books in the second quarter's report.

The group's set budget for 2024, for current operations, is SEK 350 million (€29.9 million) in revenue with an EBIT of SEK 32 million (€2.7 million).

The figures are preliminary and not revised, the final quarterly report for January-March 2024 will be published according to the previously communicated plan on 15 May 2024.

Job Solution Sweden Holding shares last traded at SEK 22.80 (€1.95), up 20.00% on the day and 34.91% above the 52-week low of SEK 16.90 (€1.45) set on 25 April 2024. The company has a market cap of SEK 92.77 million (€7.9 million).