Randstad: current trading remains robust
Ahead of an analyst and investor conference, recruitment giant Randstad claims that growth remains robust.
Ahead of an analyst and investor conference, recruitment giant Randstad claims that growth remains robust.
The company’s statement says: “The trends that have been discussed in our Q3 2010 presentation have continued into Q4 2010.
“In October revenue per working day increased by 17% (year-on-year, organically) and so far we see no changes in the main patterns in November. This means that growth in early moving businesses as US staffing and in-house (+22%) as well as Germany (+32%) is gradually slowing down against a more challenging comparison base.
“At the same time, growth gradually strengthened in, for instance, Italy, Poland, Australia, US professionals and the Netherlands.
“Our combined Dutch Randstad & Tempo-Team businesses grew by 6%. Randstad the Netherlands was close to market in October, Tempo-Team was still somewhat behind the market. In France the organic growth rate was stable at 19%.”
The statement continues that the main financial targets remain in place, with Randstad continuing to aim for a 5-6% EBITA margin through the cycle and committed to realise enhanced returns during next year.
