Accordant Group Market Update

Level 6, 51 Shortland Street, Auckland
PO Box 105 675, Auckland 1143
Tel 09 526 8770
accordant.nz

28 March 2025


Accordant Group Market Update

Accordant Group wishes to update the market on its trading results for the March 2025 financial year, in which an
increase in business and consumer confidence aligned to easing inflationary pressures did not arrive in time to
noticeably stimulate the labour market, reduce record high unemployment at 5.1% (as of the December 24
quarter) or consequently improve the group’s second half performance of FY25.
As highlighted in our market update on March 4
th
last year, we did not expect an immediate upturn in trading
conditions during FY25 but have taken significant cost out the business to soften what is expected to be a
relatively smaller loss for the year compared to previous.
Resulting revenues are down approximately 23% on the prior year.
Compared with industry peers, Accordant CEO Jason Cherrington said that the Group’s unique brand mix has
provided a broad foundation to buffer against sluggish client demand in certain sectors.
Cherrington said, “Trading conditions have necessitated a significant reduction in operating expenses, without
compromising sufficient capability and capacity to deliver on an expected demand increase in the FY26 Year.
Whilst we continue to see job applications rise in line with the current unemployment rate, advertised job roles
across New Zealand remain challenged at -17% year on year. The sentiment amongst our client base is of
restrained optimism, and most likely a more positive trading environment in the second half of the year if the
forecasted economic recovery eventuates.”
Securing the right talent at just the right time will be a critical component of New Zealand’s forecast for much
needed growth in the coming years, and we remain well positioned to capitalise on that.
ENDS



Jason Cherrington For the Board:
Group CEO Simon Bennett, Chair

For further information contact Jason Cherrington: +64 21 781 389.