Business

Recruiter Randstad posts 18% jump in quarterly earnings

Logo of personnel service provider Randstad is seen in Zurich

July 26 (Reuters) – Dutch recruitment firm Randstad (RAND.AS) reported an 18% jump in second-quarter core profit on Tuesday, broadly in line with analysts' expectations, as companies continued to compete for workers.

The group's underlying earnings before interest, taxes and amortisation (EBITA) reached 308 million euros ($315 million) in the three months to the end of June, up from 260 million euros a year earlier and in line with the 309-million-euro estimate in a company-compiled poll.

"The global labor market remains dynamic with a combination of strong demand and talent scarcity," Chief Executive Officer Sander van 't Noordende said in a statement.

The recruitment industry has boomed since economies began reopening from coronavirus-induced lockdowns, as companies moved to fill empty positions, creating a highly competitive job market.

The Amsterdam-listed company said demand for permanent staff and recruitment outsourcing business (RPO) remained strong also in July and that the number of temporary placements was similar to that of the second quarter.

Three-month group revenue through June 30 was up 13% year-on-year at 6.89 billion euros, with organic growth of 10% in North America but only 1% in the Netherlands and 4% in Germany.

($1 = 0.9782 euros)

Source reuters.com

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