Hudson Global Inc. (NASDAQ: HSON), a provider of RPO and other workforce solutions, reported revenue rose 50.4% in the third quarter ended 30 September 2019, an increase of 56.8% in constant currency. The group reported strong growth in its Asia Pacific and European operations.

The company added that Adjusted EBITDA improved to $0.8 million from an adjusted EBITDA loss of $0.3 million in the third quarter of 2018.

Revenue by geography

Hudson said a strong performance with several newly won clients in the Americas was partially offset by lower volumes at some existing clients

In Asia Pacific region revenue growth in the third quarter of 2019 was driven by a significant contract in Australia signed in the second quarter of 2019 to manage a portion of the contingent workforce for a large Asia-based technology company.

In Europe, both the UK and Continental Europe contributed to revenue growth, increasing by $0.3 million and $0.5 million, respectively.

For 2019, the company continues to expect growth in revenues and gross profit of at least 10% versus 2018 in constant currency, and the company added that adjusted EBITDA before corporate costs should grow at a faster rate.

“As corporate costs continue to decline in the second half of 2019 and our business continues to grow, the company expects to generate positive adjusted EBITDA in the second half of 2019 as well as full-year 2019,” Hudson stated.

As of the last trade, Hudson Global shares traded at $12.00, up 8.01% on the day. Based on its current share price the company has a market value of $35.27 million.