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Brunel Sees Improvement

Brunel Sees Improvement

Dutch staffing firm Brunel has posted a third-quarter profit at the high end of analysts' expectations and said it saw signs of market conditions improving.
Brunel, which competes with larger Dutch rivals Randstad and USG People and Switzerland's Adecco, reported earnings before interest and taxes of 11.8 million, down from 17.3 million a year ago.

Turnover rose to 196.3 million from 180.6 million in the third quarter of 2008.

Brunel was expected to report a third-quarter operating profit between 9 million and 12 million on revenue between 171 million and 182 million.

"Although revenue in the staffing divisions has come down compared to 2008, the third quarter has shown indications that the market conditions are improving," Chief Executive Jan Arie van Barneveld said in a statement.

The company also repeated its 2009 outlook for turnover of about 725 million and EBIT of more than 44 million.

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