Australian recruitment firm Ignite (IGN:ASX) reported revenue fell 11.0% in the six months ended 30 June 2021 to AUD 113.8 million (USD 83.4 million).

The group said Covid-19 had a material impact on its financial results for the period.

This result included Lloyd Morgan China Limited until its disposal on 18 November 2019, when the group exited the Chinese market. Continuing operations comprise the business operating in Australia and New Zealand.

In the current financial year, revenue from continuing operations declined 9.6% while gross profit from continuing operations decreased 11.7% to AUD 13.5 million (USD 9.8 million) and the gross profit margin from continuing operations decreased slightly from 12.1% in 2020 to 11.8%.

Profit for continuing operations after tax increased to AUD 2.4 million (USD 1.7 million). Excluding the benefit of Net JobKeeper (Australia’s Covid-19 stimulus package), there was a small loss from continuing operations after tax of AUD 136,000 (USD 99,695), an improvement of 96.4% on the comparative period.

The group also announced today the appointment of Bernt Schindler as New South Wales, Victoria & Western Australia General Manager of the Specialist Recruitment division.

Schindler has over 20 years' experience in recruitment and staffing leadership across the Asia Pacific region with a high level of exposure to global implementations. He has direct experience in agency, internal, RPO and contingent workforce solutions.

Shares in Ignite last traded at AUD 0.080 (USD 0.059), no change on the day. The company has a market cap of AUD 7.17 million (USD 5.2 million).