Work Service Capital Group, (WSE:WSE) the Polish staffing and RPO provider, reported revenue of PLN 424.9 million (€99.3 million) a decrease of 17.7% compared to the previous year.

Earlier this year, Work Service announced that Maciej Witucki had resigned from his role as CEO with effect from 28 February 2019. Iwona Szmitkowska, Vice President of the Management Board will take over Witucki’s role on the Board.

In February, Work Service announced that it has begun the process of selling its foreign subsidiaries including Work Service Czech Work Service Slovakia, as well as Work Service SK, and Work Service Outsourcing Slovakia, which are part of Work Service Slovakia.

Yesterday, Szmitkowska told Polish newspaper Puls Biznesu, “Our revenues are falling, but we focus on more profitable clients, especially in Poland. The net result is growing, which is the result of restructuring activities and optimisation of costs.”

Revenue by geography

In trading last week, Work Service shares traded at PLN 2.35 (€0.55), up 6.8% on the day. Based on its current share price the company has a market value of PLN 144.30 million (€33.7 million).