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Randstad Revenue Rises 7% in North America

July 26 2012

Randstad Holding NV’s second-quarter North American revenue rose 7.0 percent on an organic basis to €995.4 million (US$1.25 billion). Organic growth excludes impact of currency as well as acquisitions and disposals. However, organic growth does include Randstad’s acquisition of SFN Group in September 2011 on a pro forma basis.

“We still see a mixed picture in an uncertain environment, illustrated by growth in North America, Asia and Latin America and a gradual slowdown in Europe,” said CEO Ben Noteboom. “Our colleagues in the USA and Japan did particularly well this quarter, growing both revenue and profit.”

Permanent placement fees in North America rose 6 percent on an organic basis year over year in the second quarter. Revenue in Randstad’s North America staffing business rose by 8 percent organically. North American professional staffing revenue rose 7 percent organically in the second quarter, but the company noted that information technology revenue slowed.

Randstad reported €6.3 million (US$7.9 million) in integration costs for SFN Group in the second quarter.

Global second-quarter revenue at Randstad rose 10 percent to €4.30 billion (US$5.41 billion) from €3.92 billion in the second quarter of last year. However, revenue fell 2 percent on an organic basis, which includes the SFN Group but excludes impact of currency and other acquisitions and disposals.

Global second-quarter gross margin narrowed to 18.2 percent from 18.4 percent in the year-ago quarter.

Randstad’s second-quarter net income fell 52.2 percent to €36.5 million (US$45.9 million) from €76.3 million in the year-ago period.

Randstad Holding NV
 For the second quarter ended June 30, 2012, compared with the year-ago period.
 Revenue: €4.30 billion (US$5.41 billion), +9.9 percent
 Net income: €36.5 million (US$45.9 million), -52.2 percent

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