New Zealand temporary staffing firm Accordant (AGC:NZC), the New Zealand-based temporary staffing provider, reported revenue today of NZD 112.1 million (USD 65.2 million) for the six-month period ended 30 September 2023, a fall of 8.8% compared to the same period a year ago.

Accordant has two defined reporting segments:

AWF and The Work Collective – Contingent Blue Collar Labour Hire associated with infrastructure, logistics, manufacturing, technical and construction. TWC provides opportunities for those who face barriers to employment.

Madison Recruitment, Absolute IT, JacksonStone & Partners, and Hobson Leavy – White Collar Contingent temporary employees and contractors together with Permanent Recruitment and Executive Search associated with professional and managerial positions including technology and digital business sectors.

Accordant announced the acquisition of Auckland-based executive search firm Hobson Leavy earlier this year.

Jason Cherrington, CEO of Accordant, said executive search firm Hobson Leavy was tracking to expectations.

Cherrington said, “Group revenue for the trading period was down 9% against the prior year, with most of the impact felt from a foreshadowed easing in temporary and contracting placements across the white-collar segment.”

“Our outlook for the second half of the year is positive, as we continue to focus on providing flexible and dependable people solutions to clients, enabling them to achieve their varied goals and deliver on their own strategic plans,” Cherrington added.

Accordant Group set a new 52-week low during today's trading session when it reached NZD 1.10 (USD 0.64). Over this period, the share price is down 36.11%. Shares last traded at NZD 1.15 (USD 0.67), up 0.88% on the day. The company has a market cap of NZD 38.54 million (USD 22.4 million).