FINANCIALS: ManpowerGroup reveals 7% rise in revenues

Recruitment giant ManpowerGroup has revenues increase 7% year-on-year, according to results for Q3 2017.

The results, released late last week, reveal group net earnings of $137.7m (£104.4m), up from $129.2m in the corresponding period last year and revenues of $5.5bn.

According to the group, results in the quarter were affected by stronger foreign currencies relative to the US dollar compared to same period last year. On a constant currency basis, revenues increased 4% and net earnings per diluted share increased 6%, while earnings per share in the quarter were positively affected 6 cents by changes in foreign currencies, compared to the same period last year.

Commenting on the group’s performance, chairman and CEO Jonas Prising said: “We made good progress with solid results in the third quarter and we are well positioned to finish 2017 with strong performance.

“We expect the broad-based global improvement in both employer hiring intentions and economic growth to provide us with good opportunities for continued profitable growth.

“We are anticipating the fourth quarter of 2017 diluted net earnings per share to be in the range of $2.01 to $2.09, which includes an estimated favourable currency impact of 12 cents,” Prising said.

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