FRANKFURT (dpa-AFX) - The personnel services provider Amadeus Fire has started the year with a dampened result. Calendar effects such as earlier Easter vacations had a negative impact on earnings. The overall economic weakness also put pressure on business. Overall, the training segment performed better, while the personnel services business area was weaker. The Management Board confirmed its targets for the current year, the company announced in Frankfurt on Tuesday. The share price rose slightly.

The share price rose by just under one percent in the morning, slightly outperforming the SDax, on which it is listed. Since the turn of the year, the share has so far lost a good 4 percent.

Amadeus increased its turnover in the first quarter by 3.4 percent to 114.8 million euros compared to the same period last year. Business with training courses and seminars more than compensated for the decline in staffing and placement services, which was no longer possible in terms of operating profit. Earnings before interest, taxes and amortization of intangible assets (operating EBITA) fell by almost a quarter to a good 14.4 million euros. On balance, Amadeus earned 9.1 million euros, 23 percent less than a year ago.

Amadeus Fire reported that demand for personnel services remained high due to the shortage of skilled workers. Customer inquiries in the first three months of the year were roughly on a par with the previous year. However, there is a great deal of uncertainty due to the economic development: companies' willingness to hire and candidates' willingness to change jobs has decreased.

For the year as a whole, the operating result should continue to increase by 5 to 14 percent to between 74 and 80 million euros. For turnover, the management expects an increase of 6 to 13 percent to between 470 and 500 million euros. A slight recovery in the economy as a whole is not expected until the second half of the year, it said./lew/mne/mis