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Randstad revenue up in world, North America

July 29 2010

Second-quarter revenue rose 16% year-over-year at Randstad Holding NV, one of the world's largest staffing firms, with recoveries in North America and other geographies.

"Some key economies like the USA, Germany and France are clearly growing and our businesses in these countries are taking the lead in stimulating our growth," CEO Ben Noteboom said. "Similar patterns are emerging now elsewhere in Europe and Asia Pacific."

The company saw jumps in industrial placements and improvement in the administrative and professional segments, Noteboom said.

Randstad's second-quarter North American revenue rose 33% to euro470.3 million (US$574.0 million). It rose 22% on an organic basis excluding the effects of currency and acquisitions and disposals.

The company reported its professional revenue in the U.S. grew by double digits with information technology and finance/accounting the main growth drivers.

Randstad's German revenue rose by 40% to euro418.3 million (US$510.6 million), and its French revenue rose by 18% to euro777.0 million (US$948.4 million).

Total second-quarter revenue at Randstad rose 16% to euro3.47 billion (US$4.23 billion) from euro2.99 billion in the year-ago quarter.

Second-quarter gross margin narrowed to 19.1% from 20.0%.

The company posted second-quarter net income of euro55.9 million (US$68.2 million) compared with net income of euro11.6 million in the second quarter of last year.

Randstad Holding NV
For the second quarter ended June 30, 2010, compared with the same period in the previous year.
Revenue: euro3.47 billion (US$4.23 billion), +16%
Net income: euro55.9 million (US$68.2 million) vs. net income of euro11.6 million

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