Accordant Group has reported a decline in revenues of approximately 23% for the March 2025 financial year.
The company attributed the decrease to the lack of an increase in business and consumer confidence, which did not arrive in time to stimulate the labour market or improve its second-half performance.
Accordant Group chief executive Jason Cherrington said the group's unique brand mix helped buffer against sluggish client demand in certain sectors.
He also highlighted the need for a significant reduction in operating expenses while maintaining the capability to deliver on expected demand in the 2026 financial year.
Accordant Group said job applications have risen in line with the current unemployment rate, but advertised job roles in New Zealand remain challenged, down 17% year on year.
The company remains optimistic about a more positive trading environment in the second half of the year if the forecasted economic recovery materialises.
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