Swedish HR and recruitment firm MoxieTech Group AB reported revenue today for the third quarter period ended January 2019. Revenue amounted to SEK 63.2 million (€6.0 million), a decrease of 2.1% when compared to the previous year.

CEO Ronny Siggelin said the company expected a stronger third quarter and said the company’s “recovery rate has been delayed due to the prevailing market situation combined with the lack of qualified consultants/candidates.”

The group operates four subsidiaries in four different segments: Work and Passion AB (HR tech), Maxkompetens Konsult AB (recruitment and staffing), J&M AB (finance and accounting), and SkolPool Sverige AB (student health).

MoxieTech said it was taking measures to adjust costs in its recruitment and staffing business and added that the changes will take effect during the fourth quarter.

MoxieTech Group AB set a new 52-week low during today's trading session when it reached SEK 2.30 (€0.22). Over this period, the share price is down -60.66%. As of last trade the company traded at SEK 2.40 (€0.23), down 14.59% on the day. Based on its current share price the company has a market value of SEK 36.51 million (€3.4 million).