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World – Robert Half reports strong Q4 revenue growth

30 January 2015

Robert Half (RHI: NYSE), the US-based international professional staffing firm, yesterday reported revenue of USD 1.2 billion for the fourth quarter ending 31 December 2014, up by 12.7% from USD 1.1 billion last year. 

(US$m) Q4 2014 Q4 2013 Change FY 2014 FY 2013 Change
Revenue 1,221.4 1,083.9 +12.7% 4,695.0 4,245.9 +10.6%
Gross Margin 500.8 443.2 +13.0% 1,922.9 1,723.1 +11.6%
Net Income 84.1 66.9 +25.7% 305.9 252.2 +21.3%

Harold M. Messmer, Jr., chairman and CEO of Robert Half, commented: “Robert Half finished the year strongly, with broad-based revenue expansion across our staffing and consulting businesses. Fourth-quarter 2014 revenues from staffing operations increased by 14% compared to the prior year (adjusted for currency), making this the fifth consecutive quarter in which growth rates have accelerated. Protiviti results also remained very strong with fourth-quarter revenues increasing 22% on a constant-currency basis over the same period in 2013.”

“This was Robert Half's 19th straight quarter of double-digit net income and earnings per share percentage growth on a year-over-year basis. Unlevered return on equity remained robust at 34 percent in the fourth quarter. Earnings per share of USD 2.26 for 2014 is the highest ever reported by the company,” he added.

Revenue by business segment:

(US$m) Q4 2014 Q4 2013 Change FY 2014 FY 2013 Change
Accountemps 414.2 377.7 +9.6% 1,616.6 1,511.0 +7.0%
OfficeTeam 214.8 214.7 +12.6% 917.1 832.4 +10.2%
RH Technology 152.9 137.2 +11.4% 577.4 525.3 +9.9%
RH Management Resources 144.6 126.8 +14.1% 565.3 501.2 +12.8%
RH Finance & Accounting 96.7 85.8 +12.8% 394.5 347.7 +13.5%
Protiviti 171.3 141.6 +20.9% 624.2 528.4 +18.1%
Total 1,221.4 1,083.9 +12.7% 4,695.0 4,245.9 +10.6%

Robert Half operates across the world but provides no geographical breakdown of their results by region or country.

In trading yesterday, the company’s share price closed up 3% at USD 59.21, an increase of 43.9% compared with a year ago. Based on its current share price, the company has a market value of USD 8.1 billion.