The results, published late yesterday, reveal revenue for the full year of $5.3bn (£4.2bn), down 4% and 3% decrease on a constant currency basis compared to 2015 results.

Full-year 2016 earnings from operations were $65m compared to $66.7m in 2015.

Excluding restructuring costs from the 2016 results and Asia-Pacific staffing operations from the 2015 results, earnings from operations rose 9% on an adjusted basis.

With regards to Q4 2016, the group revealed an 11% drop in revenue to $1.3bn compared to the same quarter of 2015.

Over the period, the group saw earnings from operations for Q4 2016 of $21.6m, compared to $26.5m reported for Q4 2015. 

Commenting on the results Kelly president and CEO Carl T Camden said: “Despite the continued softening market demand in Q4, 2016 was a year of progress for Kelly. For the full year, we improved our GP rate, delivered higher year-over-year earnings from operations, and improved our conversion rate – all while adding free cashflow, increasing our quarterly dividend and ending the year debt-free.

“By finalising the APAC JV [joint venture] transaction in 2016, Kelly is able to move forward in 2017 as an even more focused company committed to profitable growth.”