Workforce gets lift as pandemic fades, but holds on to dividend
The labour services group is benefiting as project delays recede, while it says demand for upper management is buoyant
22 August 2022 - 08:10
UPDATED 22 August 2022 - 09:58
Labour services group Workforce Holdings has reported a jump in profits of more than a quarter for its 2022 half year, benefiting from easing Covid-19 restrictions and buoyant demand for upper-level managers.
Revenue rose 21% to R1.9bn to end-June, with after-tax profit rising 28% to R35.49m, with the AltX-listed company reporting there is a “definitive sense of normality returning to Africa”. The group opted to hold onto its dividend due to economic uncertainty, while profits are still about 14% below pre-Covid-19 levels...
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