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Polish recruitment services provider Grupa Pracuj 
GPP on Tuesday reported a 15% fall in net profit compared with the previous quarter, reflecting stagnation in its core domestic market despite low national unemployment.
WHY IT’S IMPORTANT
The results come against the backdrop of a tight Polish labour market, with the registered unemployment rate estimated at 5.4% by the ministry of labour, family, and social policy, at the end of July.
Despite low unemployment, hurdles such as rising labour costs and economic uncertainty are tempering hiring appetite, according to a Polish Agency for Enterprise Development (PARP) report from April. Corporate sector wages, for instance, rose 7.6% year-on-year in July.
CONTEXT
Amid uncertainties in the Polish recruitment market, Grupa Pracuj is looking to diversify. In its 2025-2030 strategy published in May, the company is targeting growth in the HR software segment, particularly the larger “post-hire” market, through acquisitions.
BY THE NUMBERS
The Polish recruiter’s second-quarter net profit stood at 54.8 million zlotys ($15.05 million), which was below the forecast in a Reuters poll.
Revenue slightly fell to 204.4 million zlotys from 204.9 million zlotys in the first quarter, while the company’s EBITDA reached 91.5 million zlotys.
($1 = 3.6405 zlotys)
BBM JOB
