Uniflex have a quiet start to the year
"In Sweden, demand in the export industry and the customer service was weaker than the previous year. The demand for the logistics sector has remained unchanged , while the construction sector towards the end of the quarter developed more positively than in recent years . All this means that Uniflex turnover decreased. We are still proud that despite those challenges (we made) an operating profit in quarter," said Jan Bengtsson, CEO Uniflex.
Bengtsson added, "In Norway , we continue to grow, but we do not reach the operating profit. , The first quarter is however, the weakest in Norway because we have many construction clients in the country. during the past year, however, we have worked hard to increase our (business sectors) significantly to reduce seasonality . During the beginning of the second quarter , we signed some good customer agreements in Norway will provide additional positive impact on sales and earnings from May."
Bengstsson concluded, "In Germany succeed we can not make a profit in the quarter. Revenues are lower than expected. A key reason is that some of the staff from two of our offices have decided to resign to go to a competitor. It has given us the extra costs a period , while a number of consultants has been taken over of the competitor. The lost revenue amounts to over a million dollars per month. We have hired new staff, but it will be a while before we regain the revenues we lost. Spring assessment of profit for the full year in Germany , we must therefore change to that we now estimate that we will make profit for at least one quarter in 2014 and full-year earnings from 2015.In Finland, the operating profit is still slightly negative, but we start to see an improvement in demand."
Uniflex has confirmed its sales in the first quarter of 2014 decreased 15% to 284m and operating margin was 0.6%