FINANCIALS: Kelly Services posts rise in revenue
Recruitment giant Kelly Services has seen a 2.2% year-on-year increase in Q1 revenue, according to results for the first quarter 2016.
The results, published late yesterday reveals revenue over the period increased to $1.3bn (£900m), up 4.6% on a constant currency basis, on the same quarter last year.
Carl T Camden, Kelly’s president and chief executive, said he was pleased with the firm’s ability to deliver “solid” increases in revenue, gross profit (GP) and earnings over the quarter.
He added the group has operated with improved efficiency with a heightened focus on profitability, while investments in its PT (Professional Technical) and OCG (Outsourcing and Consulting Group) businesses have continued to yield results as Kelly expands its role as a talent adviser to clients worldwide.
Kelly’s Q1 results at glance:
- Earnings from operations $14.7m, up 22% year-over-year
- Earnings per share of $0.29 versus $0.10, a 190% increase
- Total company revenue up 5% in constant currency
- GP up 60 basis points to 17.3%
