Dutch staffing firm HeadFirst Source Group NV (HFS:NA) reported revenue for the first half of 2017 of €243.6 million, an increase of 152% compared to €96.5 million, due to the completion of the merger between HeadFirst and Source last year.

Operating profit amounted to €1.56 million, against €0.55 million in the first half of 2016, an increase of 183%.

HeadFirst Source Group also announced that the number of professionals employed by both organisations on a daily basis from clients increased by 6.4% in the first half of 2017 compared to the end of 2016.

Looking ahead, for the second half of 2017, HeadFirst Source Group expects further revenue growth. This expectation is based on the tendering and tender procedures awarded in the first half of 2017. In addition, an increase is expected of the number of employees employed by existing clients. Based on the positive sales outlook and merger benefits, an improvement in the margin of HeadFirst Source Group is expected for the second half of the year. HeadFirst Source Group also announced that it is on schedule to achieve its financial targets of €460 million in revenue for 2017.

In trading today Headfirst Source Group traded at €2.72, up 5.43% on the day. Based on its current share price the company has a market value of €33.4 million.