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Work Service Capital Group has got off to a flying start in 2012

The first quarter of 2012 has seen an increase in Work Service Capital Group’s net profit of almost 60%, as compared to the corresponding period last year.
During the same period the group’s revenues increased by 22.45% and reached over PLN 170 million. At the end of April Work Service successfully debuted on the WSE, seeing an increase of 31.7% in the share price on the day of the debut.
Share allotment certificates will be changed into the company’s shares next Thursday.

 

Data in PLN

Q1 2012

Q1 2011

Change

Revenue

170 642 225.82

139 339 820.89

 + 22.45%

Return on sales

7 851 358.77

5 838 504.53

 +34.47%

Gross profit

4 587 453.28

3 354 370.62

 + 36.75%

Net profit

4 348 050.01

2 719 386.12

 +59.89%

“Last year ended with the best result in our capital group’s history with PLN 617.92 million in revenue yielding PLN 22.30 in consolidated profit. It would appear that this year is going to bring us further records as we achieved increased profits of almost 60% in Q1,” comments Tomasz Hanczarek, President of the Management Board of Work Service S.A.

“Such dynamic development of our capital group is an endorsement of our consistent implementation of the company’s strategy. As recently as the beginning of 2012 our branches were opened on a new market - in Turkey. At the same time Baby&Care, which delivers specialised caregivers and medical staff for individual clients, joined the Work Service Group,” adds Dariusz Rochman, General Director, Vice President of the Management Board of Work Service S.A..

Forecasts – 2012*

GK Work Service

IT Kontrakt**

Total

Revenue

764 187

51 459

815 646

EBIT

45 926

8 705

54 631

Gross profit

32 689

8 628

41 317

Net profit

28 828

6 989

35 817

* source: Annex to the prospectus of Work Service S.A.  (data in thousands)

**Results for three quarters of 2012

 

 

 

“Our forecasts indicate that 2012 will close with revenues exceeding PLN 815 million, which is an increase of over 31.99% in comparison to the corresponding period of last year. At the same time we will show the highest ever net profit of PLN 35 million. Such good results will be possible thanks to, among other things, the acquisition of IT Kontrakt and integration of our capital group,” concludes Piotr Ambrozowicz, CFO, Vice President of the Management Board of Work Service S.A.

 

Work Service S.A. is the largest company on the Polish personnel services market, basing its operations on offering innovative solutions related to flexible forms of employment, personnel consultancy and business process outsourcing. On 28 April 2012 allotment certificates were listed on the main market, which increased in value by 33% after just 3 hours. On 17 May allotment certificates of will be converted into Work Service shares.

*** 

Work Service Capital Group provides services in the area of HR management. It specializes in selection and recruitment of qualified employees, personnel consultancy, full outsourcing of functions related with HR and auxiliary processes management in companies as well as offering solutions based on usage of temporary employment contracts. Work Service S.A. is the largest service company on the Polish HR market, operating in the whole country through the network of branch offices as well as abroad in five countries of the Central and Eastern Europe. Work Service has been present on the market since 1999, and due to long-term cooperation with the largest employers in Poland and abroad it has full knowledge of the labour market and comprehensive solutions supporting management. Even 1000 large companies have already chosen Work Service to be their business partner, appreciating the company’s experience, professionalism and individual approach. Each year, thanks to Work Service, as many as 150 thousand people find employment.

 

More information:

Krzysztof Inglot,

Press Officer, Work Service SA

tel. 508 040 345,

krzysztof.inglot@workservice.pl

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