FINANCIALS: Kelly Services sees marginal rise in revenue

Recruitment giant Kelly Services has posted a marginal increase in revenue, according to results for Q1 2019.

The results, released yesterday, reveal revenue of $1.9bn (£1.4bn), up 2.9% in constant currency on Q1 2018, which includes the impact of the January 2019 acquisitions of NextGen and Global Technology Associates, providers of speciality engineering talent to the US telecommunications industry.

The group posted earnings from operations for Q1 2019 of $16.8m, compared to $12m reported for the first quarter of 2018. Included in earnings from operations in Q1 2019 is a $6.3m restructuring charge related to revitalising of the group’s Americas Staffing delivery model.

Commenting on the group’s performance, president and CEO George Corona said: “We started the year strong from both a financial performance perspective and a strategic one. 

“We delivered on the bottom line and we invested in our future by restructuring our US branch operations and completing the integration of two high-margin acquisitions.

“Completing these two strategic priorities placed us in a stronger position for future growth.”

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