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Australia – ICT recruiter HiTech hit by “tough job market”

01 February 2013

Australian ICT staffing company HiTech Personnel (HIT:ASX) today reported a -7% decline in revenues for the six months to December 2012 amid a “tough job market”. Revenue fell to AU$4.2 million while gross profit fell -15% to AU$0.9 million.

The firm saw net profit decrease to AU$0.14 million, compared to AU$0.20 million a year ago. This was mainly due to a decline in permanent placement revenue. But the firm did not report any debt and announced new business wins.

Looking ahead, HiTech said: “The outlook for the second half of the financial year [ending June 2013] will depend primarily on the economic conditions at the time.”

HiTech provides recruitment services for permanent and contract staff to the information and communication technology sector. It supplies staff from its database of over 190,000 ICT professionals and has a client base of 445 corporate clients in the public and private sector. 

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