FINANCIALS: Kelly Services announces mixed bag of results

US-listed global recruiter Kelly Services has announced a 51% year-on-year increase on earnings from operations, but a slight decrease in revenue for the third quarter of 2015.
Thu, 5 Nov 2015

US-listed global recruiter Kelly Services has announced a 51% year-on-year increase on earnings from operations, but a slight decrease in revenue for the third quarter of 2015.

The firm’s financial statement, published yesterday and covering the three months to 27 September, shows revenue of US$1.4bn (£909m), a 3% decrease on the same period last year, though a 3% increase in constant currency.

Earning from operations totalled $16.6m, up from $7.1m last year. The 2014 figure includes restructuring charges of $4m, which are not factored in to the 51% increase figure.

Gross profit was $228.2m, up from $225.4m.

Segmented results were:

Americas

• Revenue of $858.3m, down from $883.3m

• Gross profit of $137.6m, down from $131.3m

• Earnings from operations of $23.9m, up from $20.5m

Europe, the Middle East and Africa (EMEA)

• Revenue of $246.2m, down from $279.4m last year 

• Gross profit of $37.1m, down from $44.5m

• Earnings from operations of $5.3m, up from $4.5m

Asia Pacific

• Revenue of $93.1m, down from $101.6m

• Gross profit of $13.2m, down from $15m

• Earnings from operations of $2.1m, up from $500k

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