RESULTS: North America strong, Europe slow for Randstad
Fri, 17 Feb 2012
Staffing company Randstad’s Q4 2011 revenues were up 13% to €4,377.5m (£3,644.8m) compared to the previous quarter, with earnings before interest, tax and amortisation adjusted for one-off and integration costs up 1% to €163.3m.
Randstad chief executive Ben Noteboom, chief executive of the firm says: “The North American market is getting more robust, while the European markets are gradually slowing down… The Asian markets also experience some uncertainty.”
He adds that market share has been increased in North America, where Q4 revenue near doubled from its 2010 figure, from €495.6m to €937.1m and in France , where it grew from €805.9m to €834.9m.
Revenues declined year-on-year in the UK, from €209.3m to €191.8m, and in Belgium & Luxembourg by just under 3%, in the Netherlands by 0.5%, and Iberia by 8%, although the UK was the only region whose FY2011 revenues were below 2010 values.