International recruiter Randstad has recorded a ‘solid performance’ in its results for the first quarter of the year.

The firm’s results reveal:

• Revenue of €3,039m (£2,645m)
• Gross profit of €575m (-6%) with the gross margin down from 20.1% to 18.9%
• Operating expenses Q4 2009 €500m or down 12% year-on-year
• Earnings before interest, tax and amortisation (EBITA) of €75m (+53%), with the EBITA margin reaching 2.5% (vs. 1.6% in Q1 2009)

Ben Noteboom, chief executive of Randstad Holding, says: “In March, revenue recovered strongly, with the industrial segments leading the change. Our US and German businesses are well over last year’s levels, while the Netherlands is still lagging. In the US, our professionals business has also returned to growth in March.

“Clients have clearly taken the message that with increased volatility, flexible solutions are the answer. We expect growth will also return and accelerate in many other specialized and professional segments, as well as in the Dutch market.”