Krongaard AG, a Hamburg-based recruitment firm for high-level contract positions in finance and IT in Germany, reported record revenue for the full year 2018 of €53.1 million, up 12.9% from €47.0 million last year.

The group added that EBIT remained stable at €3.1 million due to large investments in growth of the sales teams, larger offices and IT.

During the year, the company invested in growth, strengthening the organisation by a large number of new consultants and moving to larger offices in Munich and Frankfurt.

Krongaard stated that growth in the first half of 2019 is in line with expectations.

“In 2019 we continue to invest,” Jan Jagemann, co-founder and CEO of the company, said. “The development in the first four months of the year has been very positive, and after ten years of consecutive two-digit growth in net fees, we plan to continue this development in 2019.”

Krongaard launched in 2009 provides specialist staffing services within finance, IT and consulting skills, and supplies temporary professional staff to major listed firms and SMEs, including banks, insurance, retail, energy, and tech companies. The company has offices in Hamburg, Duesseldorf, Frankfurt and Munich.