Italian recruitment firm, Openjobmetis SpA (OJM:MIL) reported its consolidated results for the year ended 31 December 2017 with a total revenue of €583.9 million, an increase of 27.6% compared with last year.

Openjobmetis is an Italy-based company engaged in employment services and focuses on the provision of specialist recruitment activities.

Revenue growth during the year was mainly due to higher revenue from the company’s core business, Contract Work, which grew 26.9% to €576.2 million. Revenue also grew in its Personnel Search and Recruitment segment as well as its Other segment.

“The end of 2017 clearly shows the growth of financial and equity performance compared to 2016,” CEO of Openjobmetis, Rosario Rasizza, said. “These results were achieved through a mix of factors, from the stable growth of our country, to the confidence that companies have regained and to the strategic choices made in the past which have focused the business on contract work, a very rapidly growing sector.”

“Today, we are laying the foundations for the next few years, with new projects and new proposals for the market, in line with the technological and digital innovations under way which will also lead, in our opinion, to a change in the demand for services and personnel by the companies. This is the time to plan an expansion of our services and products by combining innovative solutions and leveraging our 7,000 and more acquired customers,” Rasizza said.

Looking ahead this year, the group expects an increase in sales and in profitability due to the positive outlook of the Italian economy.

Last week, Openjobmetis traded at €12.00, down 6.5% on the day. Based on its current share price the company has a market value of €164.5 million.