FRANKFURT (dpa-AFX) - Personnel services provider Amadeus Fire sees a slight slowdown in demand for labor. As the group announced in Frankfurt on Tuesday, the general conditions for personnel service providers have deteriorated somewhat within the past months. The demand for labor has fallen within a year, it said. After the high in May 2022, it was already on a downward trend, although it was still at a high level.

Against this backdrop, however, the personnel services segment showed stable development. Above all, however, the training business outperformed the previous year's weak results. As a result, the SDax-listed Group recorded growth in sales and profits in the first quarter of the year. For the Group, the results were in line with expectations. The forecast for the current year was confirmed.

However, things did not look good for the share on Tuesday: The share price lost more than 4 percent - making it the second weakest in the SDax. Analyst Andreas Wolf from analyst firm Warburg Research wrote of a solid business performance in the first quarter. However, costs had also risen.

Sales rose by 8 percent to just over 111 million euros in the first quarter of the year. Adjusted operating profit (Ebita) improved by 8.2 percent to around 19 million euros. The bottom line was 11.9 million euros, an increase of 11.8 percent compared to the previous year.

Management confirmed its forecast for the current year. Sales are expected to increase from around 407 million to 440 to 470 million euros in 2023. Amadeus Fire sees earnings before interest, taxes and goodwill amortization (Ebita) adjusted for special effects at 73 to 79 million euros, compared with around 68 million euros in the previous year./knd/mne/mis