DPA Group (DPA: NL), the Dutch staffing firm, reported revenue for the third quarter of €36.2 million, a decrease of 7.4% when compared to the previous year.

From 1 January 2019, the group adopted the new accountancy standards ‘International Financial Reporting Standard 16. For comparison, the figures below for Q3 2019 and Q3 2018 are pre-IFRS 16.

The group said that partly due to the shortage in the labour market, there is a lot of demand from clients for highly trained DPA professionals. 

“The strengthened cooperation within and between the DPA clusters has ensured a strengthened market approach towards clients,” the company stated. 

In August 2019 DPA Group announced that Arnold van Mameren had been formally appointed as CEO of DPA Group.  Van Mameren succeeded Eric Winter, who has been at the helm of the company since 2011 and remains involved with DPA as a supervisory director. 

“The execution of the strategy started last year is well on track and that is clearly visible in our quarterly results,” van Mameren said. “Profitability has increased considerably. Our clusters are successful with our clients and, despite the tight labour market, are increasingly succeeding in attracting new talents.”

“At the top of our agenda is attractive employment practices,” van Mameren said. “For DPA, this is synonymous with offering customised development, growth and networking opportunities. We are currently working on an approach that also allows us to distinguish ourselves in terms of social relevance for clients and employees.”

Looking ahead, DPA Group said that given the phase in the economic cycle and the tight labour market, implementation of the added long-term value strategy and profitability continue to be a priority.

The Board said it consistently wants to invest in attractive employment practices and the growth of professionals, while focusing on returns and cost efficiency. 

 The company added that its fourth-quarter results are expected to be in line with the results so far. DPA Group will publish its annual figures for 2019 on 26 March 2020. 

As of the last trade DPA Group traded at €1.35, up 1.89% on the day and 8.87% above its 52-week low of €1.24, set on 11 December 2018. Based on its current share price the company has a market value of €62.23 million.