Global recruiter ManpowerGroup’s Q4 and full-year financial results for the respective periods to 31 December 2015, released yesterday, show currency headwinds affected every business segment.

Overall Q4 earnings were:

• Gross profit (GP) of $851.1m (£582m), down 2% year-on-year though up 7.8% in constant currency

• Operating profit of $181.1m, down 6.3% though up 4.7% in constant currency

• Revenue of $5bn, down 3.3% though up 7.3% in constant currency

Overall full-year earnings were:

• GP of $3.3bn, down 5.5% though up 7.1% in constant currency

• Operating profit of $688.9m, down 4.3% though up 11.2% in constant currency 

• Revenue of $19.3bn, down 6.9% though up 6.6% in constant currency

In constant currency terms, Southern Europe, particularly Italy, returned the greatest growth over the year: up 9.1% to $6.9bn. This was followed by Northern Europe, which increased revenue by 6.6% to $19.3bn. The Americas delivered the weakest growth, up 4% to $4.5bn.

The group also yesterday announced the appointment of John ‘Jack’ McGinnis as executive vice president and chief financial officer, effective 15 February. 

He joins from financial services firm Morgan Stanley, where he was global controller and responsible for financial accounting and controls, SEC [Securities and Exchange Commission] and regulatory reporting, financial planning and analysis, and the finance function for their US bank. He was previously CFO, HSBC North America Holdings and before that, a partner at EY.

He succeeds Michael Van Handel, who will retire from his role as CFO and become senior executive vice president, effective the same day. Both will report to Jonas Prising, chairman and chief executive.