Whilst Randstad waits for confirmation on its 3.3bn euro (£2.66bn) deal to acquire Vedior, both companies have announced positive results for the first quarter. If the deal goes through it would give them an 8% share of the market, making them the second biggest company after Swiss giant Adecco.

Vedior reported an gross profit was up 6% and operating income increased by 4%. Several sectors have seen an increased traditional staffing has gone up 9%,  engineering 10%, accounting and finance 18% and healthcare 18%. The company has also reported a 9% increase in permanent placement fees. 

Tex Gunning, chief executive officer at Vedior said:
“We have seen good growth in the first quarter of 2008 with notable growth in
France, in professional/executive sectors and in our permanent placement business.”
Randstad announced a revenue of 2,2m euro (£1.7m) in quarter one, up by 6% compared to quarter one 2007. Organic growth amounted to 5%, net acquisitions added 3% to the growth while currencies had a negative impact of 2%.

Ben Noteboom, chief executive officer at Randstad Holding said:
“Our people have shown great skill at making use of opportunities where these arise. An example is the recent opening of our 1,000th inhouse location. Amongst the intensive preparations for the Vedior merger our people have not lost focus on running the business and serving our clients and candidates.”

Randstad’s offer was given the seal of approval by its shareholders at an extraordinary general meeting on 23 April. The offer will be made unconditional should two thirds of Vedior shares be purchased before the 9 May providing any acceptance period is not lengthened. Vedior shareholders will meet on 25 April to discuss the offer.