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Microcap & Penny Stocks : Pennies Arent Dead

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From: getlouied10/19/2023 10:43:16 AM
   of 38043
 
Futuris (OTC: $FTRS ) Reports $2.9M Annual Profit, Acquires Healthcare Staffing Co. Recruiter.com

thestreetreports.com

Investors are often advised to look into the trading action in the aftermarket hours in order to have an idea about their course of action at market reopening. One of the companies that came into focus in the aftermarket hours was Futuris Company (OTC:FTRS) after it published a key news release.
The company announced yesterday that it had been successful in completing the acquisition of the healthcare staffing business of Reciuter.com on October 1, 2023. The company noted that the closure of the deal had come about after it received all the relevant client approvals, which marked the final stage of the transition of all the healthcare-related clients of Recruiter.com to Futuris.
The Chief Executive Officer of Futuris, Robert Day, spoke about the development as well. He noted that, further on from the acquisition of HealthHR and INSIGMA, the latest acquisition would help in the generation of more revenues for the company’s healthcare staffing business. The strategy of Futuris as a business is to bring about growth through the acquisition of other profitable staffing entities.
The company acquired eleven technology and staffing companies, and currently it is on the hunt for more such acquisitions. The eleven acquisitions had been turned into a total of seven fully owned subsidiary units, the company noted.
Futuris Company further noted that it was happy with the contributions made by the contributions to its revenues of previously acquired medical staffing companies INSIGMA and HEALTHHR. The news release went on to note that the latest acquisition would help contribute to organic growth. The company announced on October 4 that it had ended the fiscal year ended on July 31, 2023, with a net profit of $2980317. That was a major turnaround on a year-on-year basis, as Futuris Company had suffered a loss of $937432 the previous year.



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