Recruitment firm CPL Resources has reported revenues of €193.2m for the six months to the end of December, a rise of 5% on the same time the previous year.
CPL said its gross profits also rose by 5% to €28.2m but its pre-tax profits fell by 13% to just over €6m as the company invested in its operations.
The company said it will pay an interim dividend of 4.75 cent per share, unchanged from the previous interim dividend.
It said it was seeing gradual improvements in market conditions, but it added that significant price challenges and economic headwinds are still being experienced in a number of sectors and locations.
But it still expects the second half of 2015 to show profitable growth on its previous six months.
Its shares closed down sharply in Dublin trade today, shedding 18.6% of their value.
CPL said that gross profits generated from permanent placements in the six months to December rose by 11% to €11.2m. It noted that permanent fees generated outside of Ireland made up 42% of total permanent fees in the six month period.
Revenue generated from temporary assignments grew by 5% to €182m. CPL said that margin pressure continues across the temporary staffing market and this market segment remains highly competitive.
In its outlook, CPL said that despite the fact that it still faces challenges in several markets due to economic uncertainty, continuing competitive and client pressures, its "strong financial position" will give it the resources to capitalise on growth opportunities as they arise.
"While the pace of recovery remains uncertain in many markets, we expect the remainder of the financial year to show profitable growth on the previous six months for the group," commented the company's chairman John Hennessy.
