FINANCIALS: Dutch recruiter USG People sees Q1 rise in revenue

Dutch recruiter USG People has seen Q1 revenue rise 5.1% to €570.7m (£413.4m) on the same quarter last year, according to its results for the period to 31 March 2015.
Thu, 30 Apr 2015

Dutch recruiter USG People has seen Q1 revenue rise 5.1% to €570.7m (£413.4m) on the same quarter last year, according to its results for the period to 31 March 2015.

The results, published today, also reveal underlying earnings before interest, taxes and amortisation (EBITA) increased 15% to €16.9m, up from €14.7m in Q1 2014, and underlying net income rose of €9.1m from €6.8m in the same quarter last year. 

Commenting on the results in a statement, chief executive Rob Zandbergen attributed the group’s strong performance in part to a recovery in the Dutch employment market. 

He said: “Demand for staff in the small and medium-sized business segment, which accounts for around half of our revenue in the Netherlands, continued to develop well in the first quarter. 

“At USG Professionals we are now seeing growth pick up in most segments too. While we did see continued price competition in the volume segment, we expect this to gradually normalise in the current improving market.”

USG People comprises for specialist staffing brands: Start People, Unique, USG Professionals and Secretary Plus.

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