FINANCIALS: Hudson reveals rise in revenue

Global talent solutions company Hudson has posted a 15.9% increase in revenue year-on-year, according to results for the quarter to 31 March 2018.

The results, released yesterday, reveal group revenue of $16.2m (£11.9m) up 15.9% on Q1 2017, or 10.7% in constant currency.

The group also posted gross margin of $10.2m – up 1.5% on Q1 2017 but down 2.5% in constant currency.

Net income of $10.7m, or $0.33 per basic and diluted share, including income from discontinued operations of $13.6m related to the sale of its recruitment and talent management businesses in Europe and Asia, which completed in March 2018, compared with net loss of $1.3m, or $0.04 per basic and diluted share in Q1 2017.

Commenting on the group’s performance, Hudson Global CEO Jeff Eberwein said: “Revenue growth in the first quarter was boosted by growth in Asia Pacific, while revenue was impacted by the loss of a global contract in 2017 in the Americas and Europe. 

“We are pleased to have completed our recent divestitures and are focused squarely on the recruitment process outsourcing business.”

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