InterStaff Recruitment has extended last year's interim net loss as the loss of staff and the current economic downturn impacts its recruitment division.
For the six month to the end of December 2008, InterStaff reported a net loss of $894,150, up from the previous year's $128,005.
The company's recruitment division recorded a loss of $309,875 however directors expect further growth in sales and profits for the remainder of fiscal 2009 following the introduction of changes.
InterStaff's immigration division, which specialises in business, employer sponsored and skilled visas to Australia, reported a profit of $441,314.
"The division experienced steady growth which is expected to continue in the second half of the 2009 financial year," InterStaff said in its report.
Overall revenue reached $1.6 million while cash and cash equivalents were $3.6 million.
