Dutch staffing firm DPA Group (DPA: NL) reported revenue for the fourth quarter ended 31 December 2018 of €41.2 million, an increase of 6.7% compared with the previous year. On an organic basis, revenue was up 13.0% over the previous year.

DPA Group said growth in the fourth quarter and the full year 2018 was due to an increased focus on its core activities. This increased focus on its core activities was supported by the new organisational structure implemented from the end of 2017. The business units are brought together in the Finance, Banking, Integrated Business Services, IT, Legal, Government and Participations clusters.

Full year results were as follows. Full year revenue on an organic basis increased by 16.3% compared to 2017.

During the year DPA announced the sale of its shares in engineering consulting firm DPA Cauberg-Huygen Holding to Dolman Investments in an effort to increase its focus on core activities.

In March 2018, the group appointed Désirée Theyse as CFO. COO Olav Berten announced that he will resign from his role of DPA during the shareholders' meeting on 16 May 2019.

Taking into account the effects of the acquisition of Your Professionals in 2017 and the sale of business units such as Cauberg Huygen and termination of other units as well as other small-scale activities in the course of 2018, full year revenue on an organic basis increased by 16.3%, compared to 2017

DPA Group reports in three segments: Finance & Banking, Government & Legal and IT, Integrated Business Services & Participations. Revenue for the segments was broken down as follows.

Eric Winter, CEO of DPA Group commented, “In 2018, our focus from the new organisational structure focused entirely on the core activities. Collaboration within the clusters has been strengthened, which means more clout and efficiency. This is also an important factor for retention and attracting talent. Cauberg Huygen was sold last year and we have privatised or terminated non-core activities. Tight management of working capital has further contributed to improving our financial results. "

“The persistent labour market shortage ensures a relatively high turnover among our professionals,” Winter said. “We work with the best people and they are not only highly sought after by clients, but also by other employers. With our convincing cluster propositions for highly trained professionals in specialist fields, we are even better placed to connect talented people who want to work on their employability.

Looking ahead, DPA stated that it is optimistic about its results in 2019 and expects a further increase in profitability.

As of last trade, DPA Group traded at €1.49, up 8.79% on the day and 19.76% 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 €64.11 million.