By Adria Calatayud
Randstad NV (RAND.AE) said Tuesday that net profit jumped 27% in the second quarter on organic revenue growth that slowed from the previous quarter to 5%.
Net profit for the quarter ended June 30 was 193 million euros ($226.1 million) compared with EUR152 million in the year-earlier period, the company said. Adjusted net profit--excluding amortization, impairments and one-off costs--was EUR223 million in the quarter, up 23% from a year earlier.
Underlying earnings before interest, taxes and amortization--the company's preferred profit measure--rose 8% to EUR283 million euros during the quarter from a year earlier, the Dutch recruitment company said.
Quarterly revenue was EUR6.02 billion, up 2.7% from the second quarter of 2017, Randstad said. Sales grew 5% on an organic basis. This compares with an organic growth of 7.4% in the previous quarter and of 9.3% in the year-earlier period.
Analysts expected Randstad to deliver a net profit before amortization and one-off charges of EUR200 million on revenue of EUR6.05 billion, according to a consensus provided by the company.