FINANCIALS: Manpower swings to loss

Global staffing giant ManpowerGroup swung from profit to loss compared to the same quarter last year, as the effects of the global pandemic on its international operations were revealed.

According to results released this morning, the group made a loss of $64.4m (£51m) in Q2 compared to net earnings of $127.3m in Q2 of 2019, while revenues saw a 30% decline from $3.7bn in the previous year.

Commenting on the results, Jonas Prising, ManpowerGroup chairman and CEO, said: “The world continues to be impacted by Covid-19, which started as a health crisis and evolved to become a global economic and social crisis. While certain regions continue to deal with the pandemic at elevated levels, elsewhere lockdowns are easing, economies are slowly re-opening and people are returning to work.

“In this environment, we will continue to focus on operational excellence, including managing costs prudently to offset gross profit declines while continuing to invest in our transformation. This is how we will continue to progress our key strategic initiatives and position us for further success when we emerge from these crises.”

• Comment below on this story. Or let us know what you think by emailing us at [email protected] or tweet us to tell us your thoughts or share this story with a friend.

FINANCIALS: Robert Walters reports ‘positive momentum’ for business

Global recruiter Robert Walters reports “profit ahead of expectations” for the first quarter ended 31 March 2021, according to its financial results released today.

Financials 14 April 2021

FINANCIALS: Gattaca reveals Covid impact in interim report

STEM and contract recruiter Gattaca has today reported continuing net fee income of £21.1m in its interim results for the six months ended 31 January 2021 in the face of “encouraging signs of recovery” from the global pandemic slowdown of recruitment activity.

Financials 31 March 2021

FINANCIALS: Aviation sector hits Empresaria profits

Covid-19’s impact on the aviation industry hit global specialist staffing group Empresaria, according to the company’s 2020 annual results.

Financials 18 March 2021

FINANCIALS: SThree reports better than expected results

STEM recruiter SThree reports today [15 March 2021] that its group net fees in Q1 2021 are equalling Q1 2020, with the group’s performance in this year’s first quarter ahead of management expectation.

Financials 15 March 2021
Top