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USG People Profit improves considerably

USG People Profit improves considerably

USG People has announced its First-quarter 2012 results with revenue of &euro 705.1 million (Q1 2011: &euro 775.8 million) revenue was 9% lower compared to the year-earlier period.

* The month of March showed a cautious recovery in revenue per working day, up 3.5% from February

* The gross margin rose to 21.6% (Q1 2011: 21.3%)

* Operating expenses were 11% lower than a year earlier and down &euro 8.5 million compared to the previous quarter
* EBITA was up 30% to &euro 19.1 million EBITA margin: 2.7% (Q1 2011: &euro 14.7 million EBITA margin: 1.9%)

* Profitability in the Netherlands doubled as the EBITA margin rose from 2.6% to 5.2%

* Net income amounted to &euro 6.3 million earnings per share: &euro 0.08

"The improvements we implemented in our organisation in 2011 result in a considerable rise in profit," said Rob Zandbergen, CEO of USG People. “EBITA rose by 30% compared to a year ago despite a slowdown in markets. Pricing remained stable and the level of expenses continued to improve, resulting in a higher rate of conversion. The improvements stem from our focus on an effective execution of our services, which will be specifically geared to the sales process in the coming quarters. As part of our strategic plan of expanding our high-value Professionals activities we recently announced the acquisition of Control Finance in the Netherlands. Control Finance provides a stable and sound platform for us to further shape and expand our activities in the financial talent segment of the market. Furthermore Secretary Plus and Professionals have commenced the proposed rollout and organic growth.”


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