FINANCIALS: UK weakens for Kelly, LatAm strong
9 May 2013
A weak UK market and major growth in Latin America were features of recruiter Kelly Services’ Q1 2013 results, which are available in full online.
Thu, 9 May 2013A weak UK market and major growth in Latin America were features of recruiter Kelly Services' Q1 2013 results, which are available in full online.
Globally, revenues declined 3% against Q1 2012 to $1.31bn (£0.84bn), with profits down to $216.9m by a slightly larger margin of 3.1%.
UK revenues dropped 5.5% at constant currency, although this was not the worst-performing area for the group, with Germany, New Zealand, Norway and Puerto Rico seeing double-digit declines. Mexico and Brazil grew by 16.7% and 16.4%, the only double-digit growth nations.
While revenues and gross profit were down overall across all three group geographies (Americas, APAC and EMEA), the OCG division saw rises for these figures of 14.2% and 17% respectively.
Comments president and chief executive officer Carl T Camden: “The sluggish economic growth we saw throughout 2012 continued into the first quarter of 2013, accompanied by a softening in demand for temporary labour.”
Globally, revenues declined 3% against Q1 2012 to $1.31bn (£0.84bn), with profits down to $216.9m by a slightly larger margin of 3.1%.
UK revenues dropped 5.5% at constant currency, although this was not the worst-performing area for the group, with Germany, New Zealand, Norway and Puerto Rico seeing double-digit declines. Mexico and Brazil grew by 16.7% and 16.4%, the only double-digit growth nations.
While revenues and gross profit were down overall across all three group geographies (Americas, APAC and EMEA), the OCG division saw rises for these figures of 14.2% and 17% respectively.
Comments president and chief executive officer Carl T Camden: “The sluggish economic growth we saw throughout 2012 continued into the first quarter of 2013, accompanied by a softening in demand for temporary labour.”
