Amadeus FiRe (AAD: GR), the German staffing firm, reported revenue for the first quarter ending 31 March 2019 of €55.3 million, an increase of 14.7% compared with the same period last year.

During the first quarter, Amadeus FiRe said the first quarter had the same number of billable days as the same quarter of the previous year so there was no impact on the quarter’s results. 

Last year the Equal Pay Act had an impact on the temporary employment market which resulted in a decline of orders. However, Amadeus FiRe said the seasonal decline in orders for temporary employment at the turn of the year in 2019 was slightly lower this year than on a long-term average.

Gross profit improved by 18.7% and the gross margin increased from 45.7% to 47.3% in Q1 2019. The comparatively high growth rates of the high-margin recruitment and training services had a positive impact on the gross profit margin.

“Sales and results for the first quarter of 2019 were slightly above the planning and expectations of the Management Board,” Amadeus FiRe stated. “The positive start is offset by an economic slowdown and a degree of uncertainty among companies in Germany. Against this background, the Executive Board is currently sticking to its earnings forecast for the entire financial year with an increase in earnings of around 5%.”

Amadeus Fire AG set a new 52-week high during today's trading session when it reached €116.00. Over this period, the share price is up 26.53%. As of last trade, the company’s shares traded at €114.0, down 0.35% on the day. Based on its current share price the company has a market value of €594.68 million.