FINANCIALS: ManpowerGroup sees revenue rise by 4%
Recruitment giant ManpowerGroup has seen year-on-year revenue rise 4%, according to Q1 results.
The results covering the three months ended 31 March, published late last week, reveal revenue of $4.8bn (£3.7bn), gross profit of $787.8m up from $773.8m in Q1 2016, operating profit of $127m, down from $131.7m and net earnings of $74.4m, up from $71.73m over the same period.
Commenting on the group’s Q1 performance, Jonas Prising, ManpowerGroup chairman and CEO, described the firm’s first quarter results as “very encouraging”.
“We are seeing further broad-based improvement in Europe, setting the stage for what we believe could be a slow but sustained labour market recovery in that region.
“Our workforce services and solutions are resonating with our clients and candidates, which gives us the confidence that we are on the right track and well placed to seize further opportunities during 2017.
"We anticipate second quarter earnings per share will be between $1.67 and $1.75, which includes an estimated unfavourable currency impact of 8 cents and excludes restructuring charges.”
