Annual report | online edition | results of 2006
Vedior's corporate Video
Report of the Board of Management

[ Management outlook ]

We believe that the combination of skill shortages and opportunities to expand our services into new markets and sectors will sustain good growth for our business in 2007 at a similar rate to that achieved in 2006.

European staffing markets have made a good start to the year. As we continue to refine our business mix, we expect growth in gross profit to outperform the market in France and the Netherlands. We also look forward to further growth in the US where our business mix is concentrated in professional/executive sectors. Ongoing growth in emerging markets will play an increasing role in our business development.

We expect interest expenses in 2007 to be in the range of €35 million to €36 million and our tax rate to be 31%.

The realisation of benefits from prior investments and improvements in operating efficiency will provide opeating leverage and enable the Group to make further progress towards its operating margin targets.

In the longer term, demographic changes and the increased focus on the deployment and management of human resources will continue to benefit the growth of our business.