Dutch staffing firm DPA Group (DPA: NL) reported revenue for the first quarter ending 31 March 2016 of €33.2 million, an increase of 21.0% compared with €27.4 million in Q1 2015.

Eric Winter, CEO of DPA, commented: "In the first quarter of 2016, DPA has managed well to keep a positive trend in its results. The new acquisitions of ConQuaestor Interim Professionals and SOZA XPERT 2015 contributed significantly to this. In line with our strategy, we will continue to invest in new initiatives such as the joint venture Digital Marketing Professionals. In addition, we will strengthen our growth in the expansion of the number of professionals and our own training and talent development programs."

The company says that revenue growth comes partly from the companies acquired in 2015, SOZA XPERT in May and ConQuaestor Interim Professionals in October. The acquisitions led to an organic sales growth of 7.2%.

In April, DPA introduced two new initiatives. They entered into a 50/50 joint venture with e-commerce specialist New Business which will be focused on the training and deployment of online marketing specialists. In addition, DPA has established a new business unit called DPA Tax which focuses on the recruitment and professional commitment of tax specialists.

As of 1 May 2016, the Law Review deregulation of labor relations (DBA) entered into force and replaced the Declaration of Independent Contractor Status (VAR) by standard contracts. On the basis of this new legislation, DPA has an implementation process put in motion to modify the standard in the use of independent professionals and carry out an assessment of the employment relationship. DPA also conducts interviews with independent professionals currently employed by DPA clients. If necessary DPA will offer them suitable employment. This is expected to lead to a decline in revenue contribution from independent professionals, in line with DPA’s strategy aimed at deploying more of their own professionals.

In trading today, DPA Group traded at €1.70, 8.11% below its 52-week high of €1.85, set on 15 May 2015. Based on its current share price, the company has a value of €81.03 million.