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- Release Date: 31/03/14 12:01
- Summary: FORECAST: AWF: AWF Group Madison acquisition performing to expectations
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AWF
31/03/2014 10:01
FORECAST
REL: 1001 HRS AWF Group Limited
FORECAST: AWF: AWF Group Madison acquisition performing to expectations
NZX and media release
31st March 2014
AWF Group Madison acquisition performing to expectations
New Zealand's largest recruitment company AWF Group reports that its recently
acquired leading recruitment business Madison Group is making a strong
contribution to the overall Group, whilst core AWF brands continue to
experience challenges in matching availability of labour with demand.
AWF Group Chief Executive Officer Mike Huddleston said: "In the five months
that Madison has been part of the AWF Group, the business has made an
excellent contribution and continues to deliver against forecasts made at the
time of obtaining shareholder approval for the acquisition. Importantly, by
contracting jointly AWF and Madison are continuing to secure valuable new
joint business.
"However, as signalled in November, the productivity of the core AWF business
has continued to fall short of last year's record performance and will lead
to that part of the Group delivering an overall result lower than last year.
This will be somewhat offset by the excellent Madison contribution."
Full year results for AWF Group for the period to 31 March 14 are expected to
be announced on 28 May 2014 at which time indications of targets for 2014/15
will be updated.
For more information contact:
Mike Huddleston
AWF Group Chief Executive Officer
Tel: +64 9 526 8779
Mob: +64 27 577 3057
About AWF Group (www.awf.co.nz)
AWF Group has over 25 years grown to become New Zealand's largest recruitment
company. We operate three separate business units: Allied Work Force,
Tradeforce Recruitment and Madison Group. We provide employees across a broad
range of commercial and industrial sectors at all levels of business.
Having achieved a commanding national presence, AWF Group's strategy is to
maintain a steady organic growth path by penetrating deeper into the sectors
we already service whilst also seeking new sectors for growth opportunities
by acquisition. We pride ourselves on our ability to understand client
staffing needs and to respond to those needs quickly and efficiently in line
with the AWF Group motto: "Right People, Job Done".
End CA:00248912 For:AWF Type:FORECAST Time:2014-03-31 10:01:58
