Allgeier SE (AEIX.N:GER), a Munich, Germany-based IT services and staffing provider, announced last week that revenue rose 5.7% year over year in the first half of its fiscal year ended 30 June to €241.5 million. Allgeier cited stable market demand but said growth in its staffing business was more subdued than planned, particularly in the second quarter.

The company noted that it reduced low value-added business in April and May but said sales in its staffing business saw double-digit year-over-year growth.

Gross profit rose 111.9% to €78.7 million in the first half, while gross margin improved to 32.6% from 30.8%.

However, EBITDA in the first half fell 14.5% to €22.1 million.

Allgeier kept its full-year revenue forecast to a range of €500 million to €540 million.