Accordant Group has reported a net loss of $1.4 million for the first half of the financial year.
The company's revenue for the period was $88.9m, a 21% decrease compared to the same time last year.
Accordant Group said the decline in revenue was offset in part by a significant reduction in operating expenses.
Chief executive Jason Cherrington said the down cycle of economic activity had been unusually protracted and characterised by an absence of the pivot from permanent to temporary recruitment seen during previous slowdowns.
Accordant Group did not declare a dividend and said it would focus on returning to profitability, making modest investments, and reducing debt where possible.
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