French online staffing platform Freelance.com (EPA: ALFRE) reported revenue of €53.7 million for the first quarter of 2019 ended 31 March 2019, an increase of 25.1% when compared to the previous year.

In France, Freelance.com achieved consolidated revenue of €40.1 million in the first quarter of 2019. France represented 75% of the group's total revenue during Q1.

Internationally, (Germany, Morocco, Singapore, and Switzerland) revenue stood at €13.6 million, an increase of 12%. International markets represented 25% of the group's total revenue during Q1.

“This good first quarter of 2019, which shows the success of the group's commercial strategy in services to the self-employed and companies, confirms the group's ambitions for the current financial year,” Freelance.com said in a statement.

Freelance.com added that its financial objective for 2019 is to exceed €220 million in sales which would be an annual growth of more than 15%, and to achieve an operating result of more than €7 million. In the longer term, the ambition of the group is to exceed the threshold of €500 million in turnover by 2023.

As of last trade Freelance.com traded at €1.95, up 2.63% on the day and 15.22% below its 52-week high of €2.30, set on 11 March 2019. Based on its current share price the company has a market value of €68.67 million.