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UK – Robert Half Q2 growth decelerates

27 July 2016

Robert Half (RHI: NYSE), the US-headquartered international professional staffing firm, yesterday reported revenue for the second quarter ending 30 June 2016 of USD 1.34 billion, an increase of 5.6% compared with USD 1.27 billion during the same quarter last year. 

(millions) Q2 2016 Q2 2015 Change
Revenue USD 1,344.1 USD 1,272.1 5.6%
Gross Profit USD 557.0 USD 530.5 5.0%
Net Income USD 91.6 USD 89.7 2.1%

The results came in at the low end of analysts’ guidance and growth was slower than expected. All segments decelerated with the most notable being Robert Half Technology.

“Our second-quarter results reflect continued solid demand for our professional staffing and consulting services,” Harold M. Messmer, Jr., chairman and CEO of Robert Half, said. “Our financial staffing divisions and Protiviti reported the strongest year-over-year revenue gains.”

The company breaks down revenue by specialized staffing divisions which include Accountemps, Robert Half Finance & Accounting and Robert Half Management Resources, for temporary, full-time and senior-level project professionals, respectively, in the fields of accounting and finance; OfficeTeam, for highly skilled administrative support professionals; Robert Half Technology, for project and full-time technology professionals; Robert Half also is the parent company of Protiviti, a global consulting firm that helps companies solve problems in finance, technology, operations, governance, risk and internal audit.

(millions) Q2 2016 Q2 2015 Change
Accountemps USD 460.2 USD 429.5 7.1%
OfficeTeam USD 246.4 USD 242.1 1.7%
RH Technology USD 168.6 USD 165.6 1.8%
RH Management Resources USD 156.8 USD 142.3 10.2%
RH Finance & Accounting USD 113.4 USD 110.6 2.5%
Protiviti USD 198.6 USD 181.9 9.2%
Total Revenue USD 1,344.1 USD 1,272.1 5.6%

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

Guidance for the third quarter indicates further deceleration in growth and increased costs from IT investment (front office customer relationship management and project management systems).