By Johannesburg, 25 January 2012 - A sharpened
external focus, greater interdivisional collaboration and
improved customer service, should lift comprehensive
employment service provider Kelly Group's future
results, the company said in its annual report published
today.
Chairman Moss Ngoasheng said the past year had been a
disappointing one for Kelly Group, with the continuing
volatility in global markets, jobless growth in the South
African economy and uncertainty regarding the
implementation of new labour laws again negatively
impacting on the group's performance.
Group revenue for the year of R1.99 billion was 3% down on
2010 and operating profit of R15.6 million was 52% down on
the prior year. The group posted a net loss of R21.7
million, after accounting for R33.2 million in impairment
charges, and finance charges and taxation.
During this period, the group rolled out a number of
internal innovations, designed to meet its strategic
objective of leveraging technology to streamline
operations, reduce costs and develop a sustainable
competitive advantage.
In the same report, chief executive Gareth Tindall said
these system changes represented the single biggest
intervention in the group since its listing in 2007 and
were not without their challenges. While achieving their
intended objectives, the changes took their toll on the
group's results.
Tindall said since assuming its leadership in July last
year, he had noted that the group had become too dependent
on large contracts and that an urgent revision was required
to improve the business mix and increase permanent
billings. "It has become increasingly apparent that
the group has turned out to be too internally focused and
has lost touch with its traditional strengths of
recruitment and a high service ethos," he said.
"A number of initiatives are currently underway or in
the pipeline to resolve these issues, including
strengthening executive management through the appointment
of a chief operating officer and reviewing non-performing
and non-core business units."
| distribué par | Ce noodl a été diffusé par Kelly Group Limited et initialement mise en ligne sur le site http://www.kellygroup.co.za. La version originale est disponible ici. Ce noodl a été distribué par noodls dans son format d'origine et sans modification sur 2012-01-25 11:06:52 AM et restera accessible depuis ce lien permanent. Cette annonce est protégée par les règles du droit d'auteur et toute autre loi applicable, et son propriétaire est seul responsable de sa véracité et de son originalité. |
