Amadeus FiRe (AAD: GR), the German staffing firm, reported revenue for the first quarter ending 31 March 2018 of €48.2 million, an increase of 7.5% compared with the same period last year.

During the first quarter of 2018 there were two less billable days than in the same quarter of the previous year. This had an effect of -1.0 million on revenue, gross profit and pre-tax profit. Amadeus FiRe stated that this effect will be balanced out and neutralised for its fourth quarter report due to one more chargeable day in the second quarter and another chargeable day during the fourth quarter of this year. 

Amadeus FiRe said that the implementation of the Equal Pay Act last April had an influence on the temporary employment market which resulted in a one-time decline in the number of orders by 3% during the quarter.

Furthermore, Amadeus FiRe stated there was an unusually high number of sick leave in Germany, especially in the months of February and March. This resulted in a negative effect on the workload of Amadeus FiRe's temporary staff and consequently on temporary work turnover and margins.

In trading today, Amadeus Fire traded at €91.00, down 6.76% on the day and 9.36% below its 52-week high of €100.40, set on 20 Apr 2018. Based on its current share price the company has a market value of €499.03 million.