FINANCIALS: Europe boosts Randstad as Monster drags down performance

Strong growth in Europe lifted the performance of Randstad, but employment website Monster continued to drag down the global staffing giant’s performance.

This is according to the Dutch headquartered company’s results for the first quarter of 2018, released this morning.

Randstad said in a statement that its revenue grew at 7.4% to €5.68bn (£4.97m) boosted by a strong performance in France and Germany. Randstad’s EBITDA (earnings before interest, tax, depreciation and amortisation) margin rose by 3.8% compared to Q1 2017 to an underlying figure of €217m.

By contrast, in North America sales rose by just 1%, dragged down by Monster, which was acquired by Randstad in 2016, and which saw its sales slump by 16% during the quarter. Randstad CEO Jacques van den Broek said the plan was to turn Monster around in 2018.

In the UK, revenue was up by 7% (Q4 2017: up 11%), while perm fees were down by 14% (Q4 2017: down 9%).

“Overall market circumstances remained positive. We continue to outperform in most relevant markets,” said van den Broek.

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