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Gross profit up over 6% organically in Q1 2017 for Randstad

Randstad has released its results for the first quarter of 2017.

 

Revenues of €5,557m were up 6.4% organically and 18% year-on-year. Gross profit was up to €1,114m, a 31% increase YoY, and 6.4% growth organically. Adjusted net income was up 21% YoY to €148m.

 

The company’s topline grew 8% in Europe, 1% in North America and 9% in Rest of the world.

 

Permanent growth accelerating to 11% (Q4 2016: 4%), driven by all regions; NAM 6% (Q4 2016: -3%).

 

Randstad’s underlying EBITA of €209m was up 16% organically. EBITA margin up 20bp YoY to 3.8%.

 

Randstad CEO, Jacques van den Broek (pictured), said, "We started the year on a positive note, achieving sound organic sales growth and an acceleration in perm placement growth.

 

"Momentum in Europe remained favorable and our North American business continues to grow. We are satisfied with the progress of our recent acquisitions and remain very excited about their future contribution to the Group. I would like to welcome our new colleagues who joined Randstad through the finalization of the acquisitions of Ausy and BMC. Meanwhile, we are taking the next steps in our digital strategy to enhance the implementation of technology in many of our processes. This enables us to offer clients and candidates tailor-made data-driven insights and to focus on where we are at our best: making the personal connection."

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