FINANCIALS: Hudson Global profits up slightly thanks to US business

Hudson Global has seen increases in revenue and gross profit buoyed by a strong performance from its US business.

The global talent solutions company’s results for Q2 2017, published yesterday, reveals revenue of $113.6m (£86.3m) – up 0.5% on Q2 2016 and up 3.6% in constant currency, with adjusted EBITDA (earnings before interest, taxes, depreciation and amortisation) of $3.4m, compared with an adjusted EBITDA loss of $0.7m in the second quarter of 2016. Gross margin is up 3.2% to $48.3m over the same period or 6.1% in constant currency.

Hudson Americas was the group’s top performing business, with gross margin up 18%, followed by Hudson Europe, up 6% and Hudson Asia-Pacific, up 5% year-on-year.

"We delivered solid gross margin growth around the globe, with growth in nearly every country and notable improvement in the U.K. and China," said Stephen Nolan, CEO at Hudson. "We are pleased to report positive adjusted EBITDA for the fourth consecutive quarter, as we continue to focus on our core markets and practices, delivering growth and positive cash from operations,” he added.

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