Allied Healthcare revenues up in Q1

Wed, 4 Feb 2009

Care recruiter Allied Healthcare reported revenues of $79.8m (£55.9m) for the first fiscal quarter of 2009, up $5.1m (£3.57m) or 6.8% at constant exchange rates.

Contributing to the increase in revenue was Allied’s homecare staffing which grew by 11.9% to $62.6m (£43.86).  Nursing home staffing revenues declined by 16.1% to $9.8m (£6.87m). Hospital staffing increased by 4.0% to $7.4m (£5.18m).  After the unfavourable impact of currency exchange rates, of $18.3m (£12.82m), revenues decreased to $61.5m (£43.09).

Comenting on the results, Sandy Young, chief executive of Allied, says: “We are pleased with our continued growth in the homecare business, which showed an increase of 11.9% over the prior year.

“We believe that with roughly 80% of our revenues coming from the homecare business this should assist our growth despite the current worldwide economic downturn.

“However, we have seen and expect to see an increasing contraction in the use of temporary agency staff in the non-homecare business and this has reduced our overall growth to 6.8% this quarter as compared to the prior year’s quarter.”