FINANCIALS: Heidrick down but results at least out
1 November 2012
Global executive search firm Heidrick & Struggles saw a substantial drop in revenues in Q3 2012, but, as also reported by recruiter.co.uk, the business, which is US-based, will be glad to have been able to get its results out at all, having delayed the announcement due to Hurricane Sandy.
Thu, 1 Nov 2012
Global executive search firm Heidrick & Struggles saw a substantial drop in revenues in Q3 2012, but, as also reported by recruiter.co.uk, the business, which is US-based, will be glad to have been able to get its results out at all, having delayed the announcement due to Hurricane Sandy.
It saw revenues drop year-on-year 15% when expressed at constant currency to $117.3m in the period. A large drop in Europe of 38% was offset by lesser downturns in the Asia Pacific (12%) and Americas (6%) regions, all expressed at constant currency.Chief executive L Kevin Kelly says that improvement made to the cost structure “have resulted in an increase in our year-to-date operating margin despite the revenue challenges we continue to face in the macroeconomic environment”. The company’s Q3 operating margin was 8.7% and operating income was $10.2m.
Global executive search firm Heidrick & Struggles saw a substantial drop in revenues in Q3 2012, but, as also reported by recruiter.co.uk, the business, which is US-based, will be glad to have been able to get its results out at all, having delayed the announcement due to Hurricane Sandy.
It saw revenues drop year-on-year 15% when expressed at constant currency to $117.3m in the period. A large drop in Europe of 38% was offset by lesser downturns in the Asia Pacific (12%) and Americas (6%) regions, all expressed at constant currency.Chief executive L Kevin Kelly says that improvement made to the cost structure “have resulted in an increase in our year-to-date operating margin despite the revenue challenges we continue to face in the macroeconomic environment”. The company’s Q3 operating margin was 8.7% and operating income was $10.2m.
