MPS Group Q3 Results
MPS Group Inc has recorded a 4% increase in revenue for the quarter ended Sept. 30. The company generated revenue of $577 million compared with $556.6 million posted in the same quarter in 2007. Net income for the quarter slipped 7.4% to $17.2 million.
International Professional Services was down 1.8% to $142.0 million compared with $144.7 million in the same quarter in 2007.
North American Information Technology Services was down 2.6% to $154.8 million. International Information Technology Services was up 15% to end the quarter at $88.5 million.
MPS chalked up gross profit of 28.4% during the quarter, down from 29% in the same quarter last year.
"The professional employment market appeared to deteriorate further in September, particularly in permanent placement," said CEO Tim Payne. "Our business in the United Kingdom and Europe has more exposure to the financial services sector than our North America operations, and this had a negative impact on our third quarter results. Based on our experience and recent world events, we will probably see further deterioration in coming months."