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Workforce has trained nearly 15 000

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Durban - Diversified services company Workforce Holdings said that it has trained nearly 15 000 and helped more than 3 000 to prepare them for the workplace during the past year to the end of December.

Workforce said the training programmes were in line with its aim of assisting in fighting rampant unemployment in the country by providing access to appropriate training, health care wellness, financial services and lifestyle benefits to South Africans.

The company said that it had trained 14 573 people and helped another 3109 to get learnership programmes during the period.

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“We are proud to report that we employ 1 186 people and paid 75 138 temporary contractors during the year under review.

"In addition, we have issued more than 24 000 lifestyle benefit insurance policies and conducted more than 50000 medical examinations through our 27 operating brands, network of 93 branches and nine training centres across South Africa,” the company said.

The company said that its revenue for the year had increased by 29.4 percent to R2.52 billion, up from R1.95 billion, while earnings before interest, taxation, depreciation and amortisation (Ebitda) had also jumped 29.4 percent to R137.9 million, up from R106.6 million as compared to 2015.

Headline earnings per share increased by 20.1 percent to 40 cents a share, up from 33.3c a share.

Read also: Workforce grows bottom line

The group said that the results were achieved because of a strong performance in its two largest operating segments; the staffing and recruitment segment, led by its core blue collar Workforce Staffing business, and its training segment, which benefited from the acquisition of Prisma Training Solutions in October 2015.

Prisma was included in the group’s results for a full 12 months for the first time during this financial year.

The group said its diversification strategy had begun to bear fruit with the staffing and recruitment segment now contributing 79 percent of its segmental Ebitda as compared to 86 percent contribution in 2015.

“Our training and consulting operating segment has grown significantly and now comprises 11.5 percent of our segmented Ebitda (2.4 percent in 2015),” the group said.

The company said it planned to continue to drive growth.

“We recognise too that the staff outsourcing segment of our group is an important and growing business and, coupled with the consolidated opportunities in this industry, we will continue to pursue potential acquisitions in this space,” the company said.

Workforce shares dropped 2.95 percent on the JSE to close at R2.30.

BUSINESS REPORT

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