DPA Group (DPA: NL), the Dutch staffing firm, reported revenue for the first quarter ending 31 March 2019 of €36.7 million, an increase of 0.8% on an organic basis when compared to the previous year. On a reported basis, revenue was down by 7.8%.

DPA Group said the decline in revenue during the first quarter was due to the sale, privatisation and termination of several business units.

The company added that the first quarter of 2019 had 63 working days, which was one working day less than Q1 in 2018. The impact of this is approximately €0.6 million in sales and €0.5 million in gross profit and EBITDA.

Eric Winter, CEO of DPA commented, “The results for the first quarter are a reflection of our commitment to a future-proof organisation that focuses on its professionals.”

“In 2018 we sold, privatised and terminated various business units including Cauberg Huygen,” Winter said. “This has an impact on sales and profit. Moreover, we have to deal with shortages on the labour market and a higher than usual outflow of professionals. In this competitive labour market environment, our sharpened focus on those markets where we occupy a top three position delivers tangible results. These are reflected in the growth in the number of framework contracts and customers. Clustering the business units also means we are better able to connect talented professionals to us for longer periods.”

As of last trade, DPA Group traded at €1.40, down 4.12% on the day and 12.50% above the 52 week low of €1.24 set on 11 December 2018. Based on its current share price the company has a market value of €68.34 million.