Swedish job board NetJobs (NJOB: STO) reported revenue for the second quarter ending 30 June 2017 of SEK 9.9 million (€1.0 million), a decrease of 12% compared with SEK 11.2 million (€1.2 million) during the same period last year.

The group announced the launch of a new platform in Germany this quarter, which follows the launch of a new platform in Sweden in Q1.

“The second quarter was weaker than in the same period last year,” Johan Hultgren, CEO, said. “But with the launch of the new sites, we have good opportunities ahead.”

“Important to our growth is that we are able to recruit the right employees, for both Germany and Sweden,” Hultgren said. “We have reviewed our claim profiles and now have a clear picture of what we need to succeed. We have also reviewed our offer. The new platform in Sweden has been well received and the work on further improvements is continuing. During the period we launched a new platform in Germany. The new sites have been well received and will give us better opportunities ahead. The work will continue to build organic traffic to deliver more value to our customers. The new sites are also search-friendly on search engines. Now we will continue to purposefully build traffic in the long term to deliver good value to our customers.”

“Longer agreements and closer cooperation with our customers will ensure that we continue to get more satisfied customers who choose to continue working with us for a long time, which will provide more long-term revenue,” Hultgren said. “Finally, during the year, we will continue to work towards our long-term financial goals, which will increase earnings per share of at least 20% per annum and reach an operating margin of 35%.”

In trading Friday NetJobs shares closed at SEK 0.73 (€0.08), down 3.9% on the day. Based on its current share price the company has a market value of SEK 14.5 million (€1.5 million).