FINANCIALS: Half up but Manpower declines in Q3
Manpower saw a 10% decline in revenue in Q3 2012, with operating profit dropping by more than double that, while professional recruiter Robert Half fared significantly better, reporting growth in the same period.
Manpower saw revenues from services fall to $5.2bn (£3.2bn) from $5.8bn previously, a 10.5% drop that is mitigated to 3.8% at constant currency. Revenues dropped in the firm’s largest markets of the US, France and Northern Europe, but rose healthily in ‘Other Americas’ and in the workforce solutions division Right Management.
The company’s operating profit fell 25% to $118.6m, which equates to 18.7% at constant currency. See the full report on Manpower's website.
Robert Half saw revenues rise 5% to $1.03bn, with growth evenly spread across the firm’s different brands, in Q3 2012 compared to the same period in 2011. Operating income was up by nearly a third from $72.1m to $94.4m. Full results are available from the company’s investor centre.
