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Australian ICT staffing company HiTech Personnel (HIT:ASX) saw a -7% plunge in revenues during the six months to December 2012. Sales revenue fell to AUD 4.2 million from AUD 4.5 million a year ago, the company reported on Wednesday. This was due to both a decline in the temporary and permanent recruitment business.
Looking ahead, the company said it “remained fully prepared to take advantage of any improvement in the recruitment market and local recovery of the Australian economy. We are working towards winning new business in both the federal government and private corporate sector whilst ensuring that operating costs are kept to a minimum.”
Gross profit in the six months fell -15% to AUD 0.8 million from AUD 1.0 million a year earlier. Net profit plummeted -34% to AUD 0.14 million.
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.