Fiscal 2014-2015 1st Quarter revenue

Fiscal 2014-2015 1st Quarter revenue

The SII Group posted revenue of €75.8m for the first quarter of its 2014-2015 fiscal year, which ended June 30, 2014. This reflected an overall increase of 7.2 percent and organic growth of 2.1 percent from the same period a year ago.

International operations continued to drive growth, as business in France was adversely affected by market conditions and by the previous periods' fall in orders.

Continued gloomy conditions in the French market 

With the technology consulting market in France still contracting, SII's revenue there declined by 5.5 percent to €46.3m in the first quarter of 2014-2015, which had the same number of workdays as a year earlier. The Company still managed to hold on to most of its market shares in its main lines of business and to partly offset the shortfall in operations accumulated over the previous quarters. 

At 6.3 percent for the quarter, bench time deteriorated slightly from 5.2 percent in the first quarter of 2013-2014.

International operations up 35.9 percent 

The rapid growth of SII's international operations continued, with sales increasing by 35.9 percent, or 19.8 percent on a like-for-like basis. The Group started to integrate the operations of Rücker Aerospace, its new German subsidiary, focusing primarily on synergies and workload management, with the aim of bringing profit margins up to its standard. These initial measures enabled SII to expand its business in Germany, where revenue improved by 130 percent. Elsewhere, sales continued to improve in Poland (up 31.5 percent) and in other Central European countries. The Spanish subsidiary benefited from a slight uptick in the general economy there and from a major contract secured a year earlier, posting strong growth (12.6 percent) under conditions that remain difficult.

Outlook for fiscal 2014-2015

Based on its first-quarter performance, SII remains confident that it will be able to meet its announced targets, namely continued higher revenue and profits, by relying on more favorable economic conditions in the second half of the year.


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