FINANCIALS: Robert Half net income up, currency headwinds hamper international growth
A healthy US job market and positive economic backdrop elsewhere helped professional services recruiter Robert Half realise its 23rd straight quarter of double-digit net income.
The US-based recruiter’s unaudited Q4 financial statement, released this week and covering the three months to 31 December 2015, shows:
• Net income of US$93m (£63.8m), up from $84m on Q4 2014
• Revenue of $1.3bn, up from $1.22bn
• Gross margin of $540m, up from $500.8m
Over the 12 months to 31 December 2015:
• Net income rose to $375.8m from $305.9m in 2014
• Revenue rose to $5.1bn from $4.7bn
• Gross margin rose to $2.1bn from $1.9bn
Currency exchange headwinds hampered growth in the recruiter’s international markets, with its Q4 temporary and consulting revenue growth rate falling 7.2%. When considering constant currency rates, growth increased 4.4%. Permanent placement revenue fell 7.8%, though rose 3,5% on a constant currency basis.
Its technology division appeared to be the best performing, returning the highest global growth rate: 9.6%, or 10.2% in constant currency. Growth increased across all business segments.
No base line figures were given for these growth rates.
