X Proffice Year-End Report 2005
Proffice’s new Chief Executive Officer Lars Wahlström comments on the Proffice
Year End Report
- Proffice’s result for the full year 2005 and also for the fourth quarter is unsatisfactory. Proffice’s operations within Temporary Staffing and Recruitment showed however, a stable development during 2005, especially for the second half year. All in all, this activity area shows growth in 2005 and a profit for the second half year. Through the start-up of Dfind as a specialist IT organisation, and the acquisition of HSG Henkilöstöpalvelut, our product offer is even stronger, says Lars Wahlström.
- A major part of the negative result is from Proffcom, which has been a disappointment during the whole year 2005. The weak development has continued during the fourth quarter in spite of the measures taken during the first nine months. The weak result during the fourth quarter is mainly due to lower than expected volumes for a few major client projects. Measures have been taken to solve these problems such as renegotiations of a number of client agreements and making personnel cost better adaptable to varying volumes, continues Lars Wahlström.
- We have started a strategic and operational review for the group which we plan to complete in May. The focus is our market offer, organizational structure and internal efficiency. The outcome of this review will result in a more precise priority of activity areas among other things, concludes Lars Wahlström.
For more information, please contact
Lars Wahlström, CEO Proffice AB, Phone +46 8 787 17 00 or +46 73 3434 200, email@example.com
Fredrik Lindgren, CFO Proffice AB, Phone: +46 8 787 17 00 or +46 73 3434 020,
Proffice is the Nordic flexible staffing company. We have more than 10,000 employees and provide temporary staffing, recruitment services, outsourcing, and career & development programs. The Proffice share is listed on Stockholmsbörsen (Stockholm Stock Exchange).
Year end report 2005
• Net turnover MSEK 2,421 (2,719)
• Operating profit MSEK 38 (-50 )
• Profit after tax MSEK 10 (-42)
• Earnings per share SEK 0.61 (-0.43)
• Capital gains are included in the operating profit with MSEK 107
See the enclosed pdf for the year-end report in full