FINANCIALS: Revenues down at Kelly Services
US-listed global recruiter Kelly Services has seen revenue for the three months ended 28 June 2015 decrease 2% to $1.4bn (£900m), or 4% in constant currency terms, as compared to the same quarter last year.
The company experienced a similar decrease year-on-year in the first quarter.
However, the unaudited Q2 2015 financial results also show earnings from operations increased to $11.5m, compared to $5.9m for the second quarter of 2014, which included restructuring charges of $1.8m.
Gross profit (GP) was down 2.55% in the quarter to $222.3m.
Revenue in the Europe, Middle East and Africa (EMEA) region took the biggest hit, decreasing 16.8% to $238.6m, with GP decreasing 21.6% to $35.9m.
Within EMEA, Portugal was the only country to post an increase in revenue – up 4.2% to $33.9m. Revenue in the UK fell 4.3% to $27.1m. Although revenue fell 12.1% to $60.9m in France, it was still the biggest money generator in EMEA for the company.
Revenue in the Americas decreased 0.9% to $897.5m, with GP increasing 1.8% to $138m. The US was the only country in the Americas region to post an increase in revenue – up 4% to $923.6m.
The Asia Pacific region as a whole experienced an increase in revenue, up 4.3% to $100.6m, though GP decreased 6.9% to $13.9m.
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