Accordant Group posts FY25 loss amid economic downturn

Accordant Group Limited [NZX:AGL] announced a $(2.9) million after-tax loss for the year ended March 31, 2025, a decrease from the $(10.0) million loss in the previous year. The company's revenue declined by 22% to $165 million due to recessionary conditions and reduced government spending impacting hiring. Despite the overall loss, AWF, the group's blue-collar segment, recorded a $1.6 million profit, an increase from the $1.0 million reported the prior year. The company says operating expenditure was reduced by $6m and that zero delinquent debt occurred during the year. Looking ahead, Accordant plans to focus on higher fee-earning work and strategic contingent solutions. The board has elected to not pay a dividend given the current economic climate.