Recruitment agency profits remain sky high

Swedish recruitment agency Proffice's profits skyrocketed to 63 million kronor ($9.9million) before tax for the year's second quarter, despite the country's economic slowdown.

The 63 million kronor profit is a significant increase on Proffice’s 24 million kronor profit for the same period last year. Proffice’s turnover grew from 938 million kronor to 1.1 billion kronor in a year.

Lars Wahlström, CEO of Proffice, told Dagens Industri newspaper that there continues to be a healthy demand for hiring in staff.

However, he believes the profits are as much due to Proffice’s own hard work.

“We have invested in recruitment and into increasing client visits by 54 percent. For this quarter we made 42,000 client visits”, he said.

According to Wahlström, the uncertain economy is actually positive for his business.

“What we have noticed is that many clients let go of their staff but still want to hire in people. They want the flexibility.”

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