FILE PHOTO: The logo of personnel service provider Randstad is seen at an office building in Zurich, Switzerland October 2, 2018. REUTERS/Arnd Wiegmann
July 27, 2021
AMSTERDAM (Reuters) – Global staffing group Randstad on Tuesday reported second-quarter core earnings and revenue growth ahead of market expectations, driven by widespread demand for services across its markets.
Randstad reported quarterly earning before interest, taxes, amortisation (EBITA) of 260 million euros ($306.77 million), beating an average forecast of 244 million euros in a company poll of a dozen analysts.
Randstad said organic revenue per working day increased by 38.2% year-on-year in the latest quarter and that “volumes in early July indicate continued positive momentum.”
Group sales were up 38% from a year earlier at 6.08 billion euros, compared to a forecast of 5.84 billion and were 3% higher than to pre-pandemic levels in 2019.
“It is pretty much across the board,” Randstad’s finance chief Henry Schirmer said in an interview. “Logistics, e-commerce, healthcare, government, those are performing well.”
As a result of strong growth and a tightening of labour markets, Randstad said it had hired 2,400 new staff globally, an increase of 16%.
“We are pretty much hiring in all geographies, but there is emphasis on North America and the profitable markets, he said.
“Good growth. Strong profitability. Good productivity. ..all in all also a very stable balance sheet. It’s hard to shoot a hole in it,” Schirmer said.
($1 = 0.8475 euros)
(Reporting by Anthony Deutsch; Editing by Kim Coghill and Tomasz Janowski)
Source: One America News Network
