French staffing firm Mare Nostrum reported revenue last week rose by 1% in the second quarter of 2023 to €45.2 million.

The group also posted revenue for the six-month period of €88.1 million, up 4% over the same period a year ago.

Mare Nostrum said it has focused on improving its margins and the efficiency of its activities in accordance with the implementation of its ‘Horizon 2025’ strategic plan.

Temporary staffing revenue amounted to €75.1 million in the first half of 2023 (85% of group sales during the period), this was up 4% compared to H1 2022.

The group highlighted that it has refocused on its areas of expertise, in particular construction and industry, and has halted its commercial development in the tertiary and logistics sectors. The decline in turnover in these two segments was offset by the increase in sales in construction and industry.

Over the H1 period, the training division continued to grow and achieved half-yearly revenue of €5.6 million (6% of group revenue), up 20% compared to last year. This performance is driven by performances in AT Patrimoine and Platinium CQFT over the half-year.

Revenue in the wage portage division (5% of group turnover) remained stable over the half-year at €4.4 million. Recruitment revenue came to €1.1 million (-12% compared to H1 2022), impacted by a decline in practice activity in the regions.

Meanwhile, HR & Other services activity stabilised at last year's level at €1.9 million, impacted by the slowdown in the activities of Uni'tt and Inalvéa. The group noted that Agence Unique, a provider of event and cultural staffing acquired in 2022, saw revenue increase to €0.4 million.

The company confirmed its ambition to restore its net profitability by the end of 2025 with a target revenue of €190 million.

Mare Nostrum shares closed on 28 July at €0.77, down 4.93% on the day. The company has a market cap of €6.32 million.