French staffing firm DLSI SA (ALDLS: PAR), published its half-year results yesterday reporting revenue of €111.3 million, an increase of 1.5% compared to the previous year.

The company published its second-quarter revenue results in July 2019 which showed revenue of €59.7 million, down 0.4% over the year.

The group said domestic activity contributed 70.2% of its sales for the six-month period and reported ‘strong activity’ in the fields of nuclear energy, construction and industry, as well as in the services sector. International sales, in Switzerland, Luxembourg, Germany and Poland, represented 29.8% of the consolidated revenue.

DLSI said the changing of the CICE (Competitiveness and Employment Tax Credit) to reductions in social contributions as from 1 January 2019 resulted in an increased tax base for corporate tax and contributed to almost doubling the tax burden (€800,000) which negatively impacted net income.

Looking ahead the firm said it is continuing its growth in the second half of the year and is confident in its ability to reach its goal of €240 million in revenue.

DLSI added that it remains open to opportunities for external growth, whether in France or in the rest of Europe.

In trading yesterday DLSI shares traded at €17.40, down 0.5% on the day. Based on its current share price the company has a market value of €43.33 million.