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

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

Analyst Coverage

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

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(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.)