AWF
01/12/2014 12:22
ASSET
PRICE SENSITIVE
REL: 1222 HRS AWF Group Limited
ASSET: AWF: AWF Completes Madison Acquisition
AWF Group (AWF) advises that a final earn-out payment of $6 million has been
paid to the vendors of Madison. This follows the completion of a twelve month
period since acquisition in which all performance targets were exceeded.
"Madison, acquired by AWF in November 2014, has surpassed all targets and
expectations; extending the Group's service offering to include the full
range of temporary, contract and permanent recruitment services to clients
within the industrial and commercial sectors nationally" said Group CEO Mike
Huddleston.
AWF recently announced its half year results to 30 September 2014, which
included Madison for the first time. The value of the acquisition was
demonstrated by its strong contribution to the Group's overall performance,
with an increase in revenue of 58% and an increase in net profit after tax of
54% compared to the same period last year.
End CA:00258332 For:AWF Type:ASSET Time:2014-12-01 12:22:05
