France-based staffing firm Mare Nostrum (ALMAR:PAR), reported revenue on Wednesday after markets closed of €44.7 million in the second quarter of 2022, an increase of 8% compared to the same period a year ago.

Revenue for the first six months totalled €84.4 million, an increase of 11% compared to last year.

Temporary work activity amounted to €38.4 million in the 2nd quarter of 2022, up 7% compared to   Q2 2021. Benefiting from this good momentum and sustained demand in the construction sector, revenue for the first six months amounted to €72.1 million in the 1st half of 2022 and increased by 10% compared to the previous year.

The temporary work division represents 85% of the group's revenue in H1 2022 compared to 87% last year and is benefiting from the gradual increase in diversification in the Tertiary, Transport, Logistics and Agrifood sectors.

Faced with the shortage of skills which remains a major challenge for companies, the Training segment (6% of the group's revenue) continues to progress with a half-yearly turnover of €4.8 million, an increase of 21% over the previous year.

The Portage Salary business (5% of group revenue), which offers flexibility to companies and security to the self-employed, saw its revenue increase by 9% over the half-year to reach €4.5 million.

The division dedicated to HR service platforms (payroll, personnel administration), reported revenue amounted to €1.9 million, up 72% compared to €1.1 million a year ago. The growth was due to contributions from the latest acquisitions Uni'TT and L'Agence Unique.

Revenue from the Recruitment activity division amounted to €1 million, up 18% compared to H1 2021.

Looking ahead, Mare Nostrum said it should return to net profitability for the 2022 financial year. The group will continue to grow with the ambition of reaching €240 million in revenue by full year 2024.

Shares in Mare Nostrum closed yesterday at €2.85, down 1.4% on the day. The company has a market cap of €21.59 million.