Spanish professional staffing firm Catenon (COM: MAB) reported preliminary results for the first half of 2017 ended 30 June 2017 last Friday with contracted sales of €7.8 million compared to €14.2 million last year. Turnover for the same period fell to €7.08 million compared to 7.61 million last year.

According to Catenon, the decrease in contracted sales is due to contraction seen in the Latin America market as well as the reorganisation of turnkey projects which the group describes as demanding projects with higher profitability thresholds. The company also states that the second quarter of the year maintained the trend shown in the first quarter.

In trading last week, Catenon traded at €0.52, no change on the day. Based on its current share price the company has a market value of €10.86 million.