FINANCIALS: US TrueBlue sees revenue fall by 9%

US blue-collar recruiter TrueBlue has seen year-on-year revenue drop 9% in Q4 2016.
 

A results statement reveals the group posted revenue of $735m (£585m), down 9% on the same period last year, with net income per diluted share of $0.43 compared to $0.67 per diluted share in Q4 2015.

However, revenue actually increased 5% when excluding the firm’s largest customer from the results, as TrueBlue CEO Steve Cooper pointed out. 

“We remain highly focused on profit margins through disciplined pricing, ongoing cost containment and capturing synergies with our acquired businesses.”

Cooper added recent acquisitions, including the recruitment process outsourcing business the group acquired from human capital and management consultancy Aon Hewitt and its acquisition of insourcing solutions firm SIMOS, have accelerated the group’s growth strategy. 

TrueBlue added it expects Q1 2017 revenue will range from $560m to $575m.

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