Hire Technologies Inc. (TSXV: HIRE.V), a Toronto-based company building a network of staffing, IT and HR consulting firms, reported second-quarter revenue rose 46.6% year over year. Growth includes C$1.3 million (US$1.0 million) from acquisitions.

Gross margin at the firm jumped in the second quarter. The company noted its business mix continues to skew toward higher-margin perm placement and executive search business, which now comprises 44% of total revenue compared to 28% in the year-ago quarter.

Overall, Hire Technologies benefitted from strong client demand in the second quarter, CEO Simon Dealy said.

“Demand outstripped the supply of talent in Hire’s key industry verticals, and we were able to maintain industry-leading organic growth,” Dealy said. “With the unpredictability of financial markets near-term, it is important that we now focus on positioning the company for sustainable long-term growth.”

Guidance

Hire Technologies expects growth to continue in the third quarter but at a slower pace while the staffing industry cycles through summer seasonality.

Share price and market cap

Shares in Hire Technologies were at 0.065 in Canadian dollars (US$0.050) as of 9:48 a.m. today; they were 44.44% above their 52-week low, according to FT.com. The company had a market cap of C$5.0 million (US$3.8 million).