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New Zealand recruitment firm Accordant's H1 revenue rises, loss narrows

By Reuters News


Overview

  • New Zealand staffing firm's H1 FY27 revenue rose yr/yr

  • After-tax loss narrowed to NZ$234k from NZ$1.1 mln a year ago

  • Net bank debt fell by NZ$7 mln, helped by capital raise and stronger trading


Outlook

  • Accordant says guidance provided during the capital raise earlier in the year remains unchanged


Result Drivers

  • SEGMENT GROWTH - Co said both blue collar and white collar segments contributed to improved profitability, with white collar revenue up 11% and blue collar up 4%

  • DEBT REDUCTION - Co attributed lower net bank debt to a capital raise and stronger trading performance


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

H1 Revenue

NZ$88.5 mln

H1 Net Loss

NZ$234,000


Analyst Coverage

  • The stock recently traded at 2 times the next 12-month earnings vs. a P/E of 2 three months ago


Reuters Recommended Reads

  • Oct 27 - Sweden's Dedicare Q3 net sales rise 31% on acquisitions

  • Oct 26 - Kforce Q3 revenue rises on technology staffing, slightly beats estimates


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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