FINANCIALS: Randstad reveals slight rise in revenues

Recruitment giant Randstad has seen group revenues increase 2% year-on-year in Q4 2018, buoyed by robust growth in its North American and Rest of the World operations.

Results for the period released this morning, reveal overall group revenue increased from €5.9bn (£5.1bn) to €6.1bn, while gross profit growth was flat – up from €1.202bn to €1.207bn.

In North America, revenue rose from €1.03bn to €1.11bn in Q4 2018, while the group’s ROW segment saw revenue increase 12% year-on-year from €477m to €507m buoyed by its China operation which saw revenues rise 31% on 2017.

In Europe, revenue was down 2% on the previous year – with revenue down 4% on Q4 2017 in France. However, revenue was up 5% in the UK on Q4 2017.

For the full year, the group saw revenue increase from €23.2bn to €23.8bn, with GP slightly down from €4.708bn to €4.703bn.

Expanding on the group’s performance, CEO Jacques van den Broek said the group finished the year with a “sound operating performance”.

“Our revenue was stable organically year-on year in Q4, reflecting robust sales growth in North America and ROW, but slowing activity in Europe in line with recent macro trends. Over the years, Randstad has increasingly become a truly global company, with more and more countries and regions throughout the world making significant contributions to our growth and profitability. In 2018, Japan, Australia, Singapore, and also the Latin American region, were particularly strong performers.”

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