A Reasonable Start to the Year for Randstad
No-moat recruitment giant Randstad produced a decent set of first-quarter figures. The strong trend of growth witnessed in 2017 continued for the most part into the first quarter, with organic revenue growth of 7.4%. However, this was somewhat offset by adverse foreign exchange movements, knocking 4.5% off the top line as the euro strengthened against the U.S. dollar over the period. Meanwhile, the EBITA margin held flat year over year at 3.8% on an underlying basis. We do not expect to make any...Randstad is a global staffing and recruitment company, providing various solutions in the human resources (HR) services space. Co.'s services include regular temporary staffing and permanent placement of candidates. In addition, Co. provides several other HR solutions, such as Recruitment Process Outsourcing (RPO), Managed Services Programs (MSP), payroll services, and outplacement. Co. provides four distinct service concepts: Staffing, Inhouse Services, Professionals and HR Solutions.
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