Employment agency group, DLSI, has declared 2016 a good year on the back of accounts for the year which showed a rising net profit for the fifth year in a row based on consolidated sales of €195.6 million, an increase of 3% on 2015. A 4.3% decline in Switzerland, which represents more than 30% of consolidated sales, offset by growth in Germany, up 7. 6%, and Luxembourg, up 33.6%.
The group, with agencies in France accounting for more than 70% of total turnover, Switzerland, Germany, Luxembourg and Poland, saw its operating income increase by 4.6%, which it partially attributes to continued costs control.
International — non-France — revenues continued to increase with a 1.1% increase over the year.
Salaries and personnel expenses increased by 3.2% and were impacted by a compulsory insurance requirement of €496,000 for temporary workers due since 2016.
Pre-tax income increased by 7.7%, mainly due to the continuing fall in financial expenses and reached €9.225 million, up from €8.564 million the previous year.
Group net income after tax stood at €6.432 million, an increase of 4.2% compared with the previous year. The net margin reached 3.3%, and represents the same level of net margin as in 2015.
Total consolidated shareholders' equity came to more than €35 million and represented 40% of the balance sheet total. Minority interests amounted to €818,000.
The debt-ratio increased as a result of a change in working capital requirements financed by short-term financial resources. The Group has no long-term or medium-term borrowings.
At the shareholders’ AGM on 23 June 23 2017, a dividend of €0.50 per share will be distributed, an increase of 8% over the dividend paid in respect of the previous financial year.