Italian recruitment firm, Openjobmetis SpA (OJM:MIL) reported revenue for the first six months ended 30 June 2018 of €299.9 million, an increase of 5.4% compared with last year.

The company engages in employment services and focuses on the provision of specialist recruitment activities.

Openjobmetis’ revenue growth of 5.4% is mainly due to an increase in revenue from core business, i.e. “temporary work employment” (up 5.3% compared to 2017).

Profit was impacted by costs related to an agreement that Openjobmetis struck with the tax authorities for the years 2007 to 2015 in order to settle a dispute.

During H1 2018, Openjobmetis made a number of acqusitions. At the end of April, Openjobmetis purchased “Badaplus”, an app for tablets and smartphones to serve the Family Care Division of Openjobmetis.

In June, Openjobmetis acquired 100% of Coverclip S.r.l., a Milan-based company that owns Meritocracy, an online job-matching platform.

In July, the company acquired 70% of HC Human Connections at a price of €700,000, with the right to acquire the remaining 30% of HC capital held by the original shareholders.

July also saw the issue of the “Dignity Decree” (Law Decree no. 87 of 12 July 2018), which changed the regulations for fixed-term contracts and also had an impact on temporary work employment. The decree was passed by Italy’s senate today.

The group’s personnel and recruitment selection division saw revenue increase by 52.8%.

Openjobmetis’ Outplacement division saw revenue increase by 48.5% when compared to the same period last year.

Openjobmetis set a new 52-week low during today's trading session when it reached €8.87. Over this period, the share price is down -27.35%. As of last trade, the company traded at €8.98, down 1.10% on the day. Based on its current share price the company has a market value of €125.21 million.