First-quarter turnover for 2018 at Dutch staffing firm HeadFirst Source Group NV (HFS:NA) was €126 million, an increase of 3% when compared to €122 million last year.

HeadFirst Source Group stated that its first quarter growth is a result of awarded European tenders in 2017 and 2018, the deployment of more professionals with existing clients. Profit has improved due to cost savings through the integration of the HeadFirst and Source back-office organizations.

“The figures for the first quarter confirm that the company is well on course,” HeadFirst Source Group stated. “This is supported by the re-acquisition of large contracts with clients in these first months, including recently at Nuon. These successes will be reflected in the figures in the coming period.”

HeadFirst Source Group claims to be the market leader in the hiring of external professionals;  matchmaking, contracting and payrolling.  Approximately 5,000 professionals work daily with more than 100 clients in the Netherlands, Belgium and Luxembourg.

Looking ahead, HeadFirst Source Group expects further growth in 2018 and targeted 6% turnover growth to €530 million.

In trading yesterday, HeadFirst Source Group shares closed at €2.70, up 1.5% on the day. Based on its current share price the company has a market value of €33.7 million.