Workforce solutions firm Adcorp Holdings has observed a decline in permanent job placements and weaker demand for higher-margin workforce services over the interim period to end August, resulting in the firm battling margin pressure across the sectors in which it operates.
However, the group expressed confidence in its strategy to address the challenges faced by the business. To do so, it said optimising cost structures and diversifying the group’s revenue streams to fortify profits would be key.According to the firm, revenue from continuing operations increased by 10.2% to R6.5 billion as its contingent staffing division provided a welcome boost.
Professional services, on the other hand, dealt with less demand for permanent placements and recruitment placement outsourcing solutions, resulting in margin pressures despite reporting positive revenue performance.“Strategic initiatives are underway to optimise costs and enhance efficiency to address this. IT brand Paracon produced a solid performance in a difficult market, while nursing brand Charisma declined marginally as the shortage of nurses persisted.
Headline earnings per share from continuing operations came in at 33.1 cents per share for the period, 34.5% stronger than the 24.6 cents reported last year.
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