Diversified Global Holdings Group Inc. (OTCQB: DGHG) announced today that its wholly owned subsidiary Xerxis Consulting LLC expects a significant increase in operating revenues for the remainder of 2011. These improved estimates are due to beneficial legislation and exclusive long term contracts which are expected to enhance operating results by 60%.
The signing of this exclusive long term contract with Paydeecor Care Ltd, an international personnel services company, expanded Xerxis' sales area by approximately 50% overnight.
On April 30, 2011, favorable labor legislation was passed in the European Union requiring the removal of restrictions on foreign workers rights in EU-8 countries. This legislation grants Xerxis personnel greater access to work in the EU, and thereby decreasing DGHG's SG&A expenses.
The positive impact of this new legislation, coupled with Xerxis' expanded market activity, should be reflected in DGHG's second quarter results and is expected to improve this subsidiary's operating revenues by 60% in 2011.
"We expect Xerxis to definitely outperform its 2010 results, and anticipate this trend to continue into 2012 and beyond," stated Richard Lloyd, CEO of Diversified Global Holdings Group. "Diversified Global Holdings Group actively participates in the expansion of its subsidiaries. I'm very pleased that these changes support our ability to grow, as they will reduce cost and increase the profitability of our current operations."
About Xerxis Consulting, LLC
Xerxis Consulting (xerxis-consulting.com) specializes in the staffing of skilled labor and temporary employment. The company has access to thousands of skilled workers worldwide and delivers high quality employees. As a full-service HR Company, Xerxis Consulting specializes in three areas of operation: global employment provider, international business consultant, and e-commerce solution developer. Xerxis' management holds extensive experience in international contract negotiation, jurisdiction disputes, customs and cross-border relations and procedural disputes.
About Diversified Global Holdings Group Inc.
Diversified Global Holdings Group (OTCQB: DGHG) is a rapidly growing holdings company with strong subsidiaries worldwide. Since inception DGHG has completed 11 acquisitions and proven its M&A strategy. DGHG (dghold.com) intends to continue its expansion in emerging markets by leveraging its 5 divisions into 12 major market sectors.
This press release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on the Company's current expectations as to future events. However, the forward-looking events and circumstances discussed in this press release might not occur, and actual results could differ materially from those anticipated or implied in the forward-looking statements.