28 May 2015

Mixed results for AWF Group.

5:00 pm on 28 May 2015

AWF Group's full-year net profit has risen by 37 percent, driven by strong growth in its recently acquired white collar employment recruitment firm Madison.

The employment company's profit stood at $5.4 million, in the year to March.

Underlying profit rose 45 percent to $6.8 million, which the company said more clearly reflected the performance of the business. Revenue rose 33 percent, to $197.5 million, which was in line with its guidance.

Incoming chief executive Simon Bennett, who previously heading the Madison business, said AWF's core temporary employment business had delivered mixed results, reflecting growth in the main centres, and a slowdown in most of the regions.

The company will be changing its name to AWF Madison Group from June 5.