FINANCIALS: ManpowerGroup performance hit by challenges in Europe

ManpowerGroup has seen Q4 net earnings and revenue decline year-on-year.

In a statement released late yesterday, the recruitment giant revealed net earnings in the quarter of $158.3m (£120.6m) down from $216.3m in Q4 2017. Q4 2018 revenues of $5.4bn were also down 4% on Q4 2017, with net earnings of $2.54 per diluted share compared to $3.22 per diluted share in Q4 2017.

For the full year, the group posted net earnings of $556.7m or $8.56 per diluted share, compared to net earnings of $545.4m or $8.04 per diluted share in the previous year. This period includes restructuring costs, which reduced earnings per share (EPS) by 46 cents.

Elaborating on the group’s performance, ManpowerGroup chairman and CEO Jonas Prising said: “The fourth quarter results reflect a more challenging environment, particularly in Europe. Our performance demonstrates our capability to respond rapidly, as market dynamics in some parts of the world change.

“We are confident in our ability to manage in a more uncertain environment and believe our market-leading global footprint and extensive portfolio of workforce solutions will continue to serve us well and provide us with opportunities for profitable growth.

“We are anticipating diluted EPS in the first quarter of 2019 to be in the range of $1.30 to $1.38, which includes an estimated unfavourable currency impact of 13 cents,” he added.

• Comment below on this story. You can also tweet us to tell us your thoughts or share this story with a friend. Our editorial email is recruiter.editorial@redactive.co.uk

RSG company Sanderson acquires Sopra Steria’s UK division

Resource Solutions Group company Sanderson Recruitment has acquired the UK recruitment division of IT recruiter Sopra Steria.

Financials 22 July 2019

FINANCIALS: ManpowerGroup reveals revenue fall

Recruitment giant ManpowerGroup has seen revenues drop 5% year-on-year, according to results for the three months to 30 June 2019.

Financials 22 July 2019

FINANCIALS: SThree sees rise in revenue and profit

International STEM staffing business SThree has seen net fee income climb 10% year-on-year, according to interim results for the half year to 31 May 2019.

Financials 22 July 2019

Concilium Search in management buy-out

International life sciences, industrials, IT and management consulting recruiter Concilium Search has bought out its original investor, Networkers International.

Contracts 18 July 2019
Top