Accordant Group Limited Ordinary Shares
AGL.NZXIndustrials
The company was founded in 1988 as Allied Work Force, providing temporary labour services to industry across Auckland. Over the following years, the company expanded both its services and regional representation to have branches in most centres across New Zealand. It listed on the NZX in July 2005. In 2013 the Group acquired Madison Recruitment, a leading white-collar recruiter. This enabled the company to widen the range of services it offered - spanning from blue-collar temporary to white-collar permanent recruitment. Following three further acquisitions, Absolute IT in 2016, JacksonStone & Partners in 2019 and Hobson Leavy in 2023, the company grew its capability further to span all aspects of commercial and industrial recruitment services including permanent, temporary and contractor assignments. In October 2020, the company renamed from AWF Madison Group to Accordant Group. It has grown to become New Zealand's largest recruitment and resourcing company, and the only staffing provider listed on the NZX. Today, Accordant comprises five trading entities; AWF, Madison, Absolute IT, JacksonStone & Partners and Hobson Leavy; and collectively these operations include 33 branches, employ close to 200 full time staff and place thousands of people into permanent, contract and temporary roles every year. In 2019 they also established The Work Collective, an employment initiative that delivers social impact by providing meaningful work opportunities for those who face barriers to employment
Market Data
$0.140
0.0%$9.4M
-2.3x
$-0.062
0.00%
-0.5%
Latest Earnings
Accordant Group FY26 Annual Report
28 May 2026
Accordant Group reported a net loss after tax of NZD $2.1 million for FY26 (year ended 31 March 2026), an improvement from the $2.9 million loss in FY25, with total revenue of $165.1 million broadly flat year-on-year. The second half showed encouraging momentum with a 9% year-on-year revenue increase, blue collar revenue up 6.2% and executive search revenues surging 53%, while operating cash flow recovered to positive $1.6 million. The company completed a $5.0 million equity raise post-period to reduce debt, and while no formal earnings guidance was provided, management expressed confidence in continued improvement heading into FY27. Key points: Net loss improved by $0.8 million (26.8%) to $(2.1)m from $(2.9)m in FY25, reversing the trend of decline; Operating cash flow recovered to positive $1.6 million, a $2.3 million improvement on the prior year outflow of $(0.6)m; Blue collar revenue (AWF) grew 6.2% to $77.3 million with segment profit rising ~$600k to $2.1 million, driven by logistics, civil and infrastructure
Recent Announcements
Accordant Group FY26 Annual Report
Accordant Group reported a net loss after tax of NZD $2.1 million for FY26 (year ended 31 March 2026), an improvement from the $2.9 million loss in FY25, with total revenue of $165.1 million broadly flat year-on-year. The second half showed encouraging momentum with a 9% year-on-year revenue increase, blue collar revenue up 6.2% and executive search revenues surging 53%, while operating cash flow recovered to positive $1.6 million. The company completed a $5.0 million equity raise post-period to reduce debt, and while no formal earnings guidance was provided, management expressed confidence in continued improvement heading into FY27. Key points: Net loss improved by $0.8 million (26.8%) to $(2.1)m from $(2.9)m in FY25, reversing the trend of decline; Operating cash flow recovered to positive $1.6 million, a $2.3 million improvement on the prior year outflow of $(0.6)m; Blue collar revenue (AWF) grew 6.2% to $77.3 million with segment profit rising ~$600k to $2.1 million, driven by logistics, civil and infrastructure
SPH Notice - Masfen Securities Limited
Masfen Securities Limited changed substantial holding from 3.65% to 7.03%.
D&O Ongoing Disclosure Notice - N Simcock
Nicholas Adrian Simcock, Independent Director of Accordant Group Limited, acquired 12,690 ordinary shares through the company's rights offer (settled 13 May 2026) for $1,903.50, increasing his holding from 10,000 to 22,690 shares.
SPH Notice - Hull Family Trust
Hull Family Trust changed substantial holding from 52.325% to 65.276%.
D&O Ongoing Disclosure Notice - R Hyde
Rodney James Hyde, Chief Financial Officer of Accordant Group Limited, acquired 200,000 ordinary shares on 13 May 2026 for $30,000 through participation in the company's Rights Offer.
D&O Ongoing Disclosure Notice - J Cherrington
Jason Cherrington, CEO of Accordant Group Limited, acquired 1,333,333 ordinary shares on 13 May 2026 through participation in a rights offer for $199,999.95, increasing his total shareholding to 1,465,349 shares (including 299,544 shares held in bare trust by Jennifer Margaret Cherrington-Mowat).
D&O Ongoing Notice - S Bennett
Simon James Bennett, Chairman and Independent Director of Accordant Group Limited, acquired 355,328 ordinary shares (increasing his holding from 280,007 to 635,335 shares) for $53,299.20 through participation in the company's Rights Offer that settled on 13 May 2026.
Capital Change Notice
Accordant Group Limited (AGL) issued 33,333,334 ordinary shares at $0.15 per share on 13 May 2026 under a pro-rata renounceable rights offer, representing 98.27% of the total class and increasing total ordinary shares to 67,252,067.
Accordant Group - Rights Offer Outcome
Accordant Group Limited (AGL) completed its pro rata rights offer, raising approximately $5 million (against $6.7 million sought). The Hull Family Trust increased its shareholding to approximately 64.9% of voting rights by exceeding its initial commitment, with new shares expected to commence trading on 13 May 2026.
Accordant Group - Rights issue confirmed
Accordant Group Limited (NZX: AGL) has confirmed that its $5,000,000 minimum rights offer condition has been met, with the S.A. Hull Family Trust No. 2 committing to subscribe for any shortfall shares necessary to reach the minimum. The rights offer will proceed to completion on 13 May 2026, with final results to be announced on 11 May 2026.
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