AWF annual profit drops 14% on construction recruiting weakness, white-collar work booms

Mon, 28 May 2018

By Sophie Boot May 29 (BusinessDesk) - AWF Madison Group, the country's biggest contract labour firm, reported a 14 percent fall in annual profit, even as revenue rose as its white-collar recruiting business countered weakness from construction recruitment. Profit dropped to $5 million in the year ended March 31, from $5.9 million a year earlier, as revenue rose 9 percent to $279.3 million. Employee expenses rose 10 percent in the year to $253.2 million and other operating expenses lifted 12.8 percent to $12.4 million, cutting into profit...

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