RESULTS: Positive performance from Hudson Highland Group
Thurs, 1 March 2012
Global provider of professional recruitment and related talent solutions Hudson Highland Group, announced financial results for the full year and fourth quarter ended 31 December 2011.
During 2011, the company saw a 17.5% increase in revenue to $933.7m (£587.2m).
Full-year revenue grew 17.5%, 10.9% in constant currency; EBITDA (earnings before interest, tax and amortisation) grew 264% to $23.6m.
Hudson Highland posted a gross margin of $354.3m, or 37.9% of revenue, and grew 18.7% in 2011, or 11.9% in constant currency.
Manuel Marquez, chairman and chief executive of Hudson Highland Group, says: “During 2011, we launched new strategic initiatives to maximise the value of Hudson’s global platform and achieve greater operating efficiencies. In more than 20 countries, our teams placed over 16,000 professionals and managed on average 5,800 highly skilled contract consultants per day to deliver solutions that helped our clients grow and address these uncertain times.
“Despite headwinds in the fourth quarter, we achieved double digit revenue growth, generated positive cashflow and realised record net income from continuing operations in 2011. We believe we are now better positioned to confront the market contraction in Europe and its ripple effect in Asia Pacific.”