Press Release FY 2016
(WorldNews Netherlands)

Gross Profit The downward trend of the gross margin due to price pressure and lower productivity continued in Q4. This quarter also had one less working day. The lower productivity is the result of continued training initiatives and pro active hiring. Operating Costs Operating costs are slightly higher than 2015 as a result of investments in our sales force and recruitment initiatives. EBIT Lower revenue at lower margins resulted in a decrease in EBIT of 61%. Effective tax rate In 2016 the effective tax rate increased from 33.6% to 56.2%, mainly as a result of an impairment of deferred tax assets of EUR 3.7 million. Due to the lower EBIT level, this impairment has a...