Australia's biggest workforce provider Skilled Group is enjoying a share price rise despite delivering a flat first half profit.
Its engineering and marine services businesses posted strong earnings.
Skilled chief executive Angus McKay said he wanted to expand the better-performing contract maintenance and engineering businesses, which operate in the oil and gas and mining sectors.
"Our engineering and marine business is growing and rapidly and profitably," he said.
"We must seize opportunities in the market and capitalise on the breadth and ability of our combined offering."
Earnings were weaker, however, in its white-collar orientated services divisions.
Skilled Group, which in January rebuffed a merger bid from rival Programmed, on Wednesday reported a net profit of $21.15 million for the six months to December 31, marking an increase of just 0.8 per cent on the same period in 2013.
The group's engineering and marine services business showed strong growth - lifting earnings by more than 60 per cent - as major mining projects moved from the construction to production phase.
The company also forecast more exposure to mining production volumes, despite recent falls in iron ore and coal prices.
But Skilled's workforce services and technical professionals divisions both suffered an earnings slide.
"Workforce services is quite reflective of the difficult conditions across the Australian economy, impacting demand for labour and a slower start to the year in infrastructure projects," chief financial officer Gary Kent said.
Skilled's workforce services area will undergo efficiency changes during the second half of 2014/15.
The company said it was on track to deliver $15 million in cost savings in fiscal 2015.
Its shares rose nine cents or more than six per cent to $1.545 by 1200 AEDT as the broader market recorded falls.
A LABOURED RESULT
* Net profit of $21.15m, up 0.8pct from $20.98m
* Revenue of $1b, up 10.7pct from $903.9m
* Interim dividend of 7.5 cents a share, unchanged
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