Interim Report January 1 – June 30, 2010
From the CEO
This year's second quarter has continued to develop positively for the staffing industry. Poolia is focused on the temporary staffing and permanent placement of qualified professionals, and even though the segment is traditionally a little behind areas such as Industrial and Warehousing in terms of development, we can already see a clear rise in the number of inquiries as well as start-up commissions.
From the CEO
This year's second quarter has continued to develop positively for the staffing industry. Poolia is focused on the temporary staffing and permanent placement of qualified professionals, and even though the segment is traditionally a little behind areas such as Industrial and Warehousing in terms of development, we can already see a clear rise in the number of inquiries as well as start-up commissions.
From the CEO
This year's second quarter has continued to develop positively for the staffing industry. Poolia is focused on the temporary staffing and permanent placement of qualified professionals, and even though the segment is traditionally a little behind areas such as Industrial and Warehousing in terms of development, we can already see a clear rise in the number of inquiries as well as start-up commissions. As the market improved during the quarter, we invested heavily in the new recruitment of internal staff as well as marketing activities which, in the short term, had a negative impact on costs. These investments will show a return as from the third quarter both in terms of volume and operating profit.
It is particularly pleasing to note that the area of Permanent Placement is growing strongly and represented 8 % of consolidated sales in the second quarter. We rely on a strong permanent placement sector to bolster our margins. It is our assessment that the development that we now see will continue in the third quarter, which suggests continued positive growth for Poolia.
Our margins have been squeezed on the temporary staffing side over recent quarters, mainly due to price competition. To achieve our long-term profitability goals, we will continue efforts to streamline our operations and internal processes.
In April we acquired Utvecklingshuset, a company active in the Outplacement sector. This is a new business area for Poolia Sweden, which began in the autumn of 2009, and the goal is to provide our customers with a nationwide offering in the area. The acquisition enhances Poolia's competencies and extends our offering to the market as a way of meeting our customers' needs in various phases and business cycles.
The quarter also saw the launch of Poolia Quality, the symbol of our commitment to continue offering our customers the highest quality.
Johan Eriksson
CEO and President
Poolia’s business concept is to provide companies and organisations with the skills that, either temporarily or permanently meet their needs for qualified professionals. Poolia specialise in temporary staffing and permanent recruitment of professional staff in our focus areas of Finance & Accounting, Financial Services, Office Support, IT & Engineering, Sales and Marketing, Human Resources, and Executive. Poolia’s subsidiary Utvecklingshuset offers outsourcing services on the Swedish market and Dedicare, another subsidiary, offers staffing in the health sector in Sweden and Norway. Poolia is listed on the NASDAQ OMX Stockholm AB since 1999.
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