FINANCIALS: Hudson results show drop in UK gross margin

Gross margin has fallen at the UK arm of US recruitment giant Hudson.

The firm, which has offices in six UK cities, reported that gross margin from these shores was 3% lower in the third quarter of 2017 than in the same period a year earlier. 

“Growth in permanent recruitment and recruitment process outsourcing was offset by declines in temporary contracting,” a company report stated.

Hudson Europe’s gross margin increased 1% year-on-year in constant currency terms in the three months to 30 September 2017. 

“Gross margin growth was driven by Continental Europe, up 4%, led by growth in Belgium and Poland,” said the firm.

Revenue fell 5% year-on-year across the firm’s European business to $37.6m (£28.7m) in the third quarter of 2017. 

Worldwide revenue was up 9% to $118m over the same period, while global gross margin also rose.

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