AWF Madison advises that the second Quarter highlights a weakening in labour hire.
Volumes are down in AWF owing to a number of factors: some lower margin business has been discontinued – impacting revenue; at the same time a decline in construction activity and the wet winter has reduced chargeable hours from AWFâ€™s construction and civil clientele. Whilst demand for Trades is strong, this is largely being met by AWFâ€™s migrant workforce channel, which has been slower to mobilise than planned.
The performance of AWF Madisonâ€™s other businesses, Madison Recruitment and Absolute IT; continue to meet managementâ€™s expectations.
Profit, as at 30 September 2017, is expected to be behind that of the prior year. Nevertheless, Cash Flow remains strong, operational plans to improve financial performance are in place; and the business is responding well to those plans. â€œWe still anticipate a good Year End resultâ€ said CEO, Simon Bennett.
AWF Madison will announce its six month result following its scheduled Board meeting on October 25.