FINANCIALS: Kelly Services reveals revenue drop

Recruitment giant Kelly Services has seen revenue fall 3% year-on-year, according to results for the second quarter of 2017.

The results, published yesterday, reveal revenue for the second quarter of 2017 of $1.3bn (£1bn), 3% down on the corresponding quarter of 2016, but up 4%, when adjusted to account for the transfer of Asia-Pacific staffing operations to the TS Kelly Asia Pacific joint venture at the start of Q3 2016.

The group also reported Q2 operating earnings rose 71% year-on-year, with earnings per share of 47 cents, up from 23 cents in the same quarter last year.

Commenting on the group’s performance, Kelly president and CEO George Corona pointed to a “successful quarter that confirmed our strategic direction and continued Kelly's forward momentum in the market”. 

“Our performance demonstrates our sustained ability to grow the top line, operate more efficiently and deliver solid returns to our shareholders – all while continuing to invest in the future. I'm incredibly proud of our Kelly teams' commitment to growth and delivering such strong results."

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