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Amadeus FiRe AG (AAD:GER), the German temporary and permanent staffing group, today announces unaudited results for the first three months of 2010 ended 31 March. Revenues were down by -9% from 28.4 million Euro in Q1 2009 to 25.8 million Euro in Q1 2010.
However, EBITDA was up by +3.1% from 3.21 million Euro in Q1 2009 to 3.3 million Euro in Q1 2010. Profit before tax was also up by +2.8% from 2.99 million Euro in 2009 to 3.08 million Euro in 2010.
In temporary staffing, revenues were down by -3% from 19.80 million Euro in Q1 2009 to 19.23 million Euro in Q1 2010.
In interim project management, revenues were down by -46% from 4.16 million Euro in Q1 2009 to 2.25 million Euro in Q1 2010.
In recruitment, revenues were down by -13% from 1.8 million Euro in Q1 2009 to 1.58 million Euro in Q1 2010.
In training and education, revenues were up by +9% from 2.5 million Euro in Q1 2009 to 2.7 million Euro in Q1 2010.
The Group says in a statement "the future labour market situation is viewed in a more positive light now than it was at the end of 2009. A major increase in unemployment is no longer expected."
"Due to macroeconomic and industry-specific prospects, the Amadeus FiRe Group's business expectations for the rest of the business year remain positive. Following declining orders at the beginning of the year, orders for temporary staff increased at the end of the quarter. The order situation remains unchanged in the other areas."
In early trading Amadeus's shares were down by -1.55% to 20.37 Euro.