Less revenue and profit for broadcaster Manpower

L

Manpower temporary employment service achieved less revenue and profit last quarter than the same period last year. According to the company, which has been struggling with difficult market conditions for some time, there was a stabilizing trend in some important European markets.

The competitor of Randstad closed the first three months of 2019 with a turnover of 5 billion dollars, almost 9 percent less than a year earlier. This means that the decrease is slightly less strong than analysts had predicted.

Revenues fell most sharply in the Northern European activities, which also includes the Netherlands, with a drop of more than 16 percent. In addition to difficult market conditions, the company also suffered from unfavorable exchange rates, something that will probably continue to play for the time being. Furthermore, restructuring costs reduced the result. Net profit fell by nearly 45 percent to $ 53.5 million.


By: Oliver I. Kjeldsen

Oliver I. Kjeldsen has a corporate finance and extensive expertise in company audit. He grants us amazing insights on taxation, international affairs and friendly advice on nearly any topic of interest. His email is oliver.kjeldsen@economicinform.com

Add comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Recent Posts

Categories

About us

EconomicInform, EconomicInform.com is a product of EconomicInform LLC. We sincerely believe that economics is one of the most interesting and most underappreciated – in terms of getting some enjoyment out of reading the subject articles – sciences. More on that - at the link. Feel free to drop us a line.