Randstad : Q2 results in line but the stock lacks catalysts – Neutral vs Buy
>Brisk growth rate in Q2 and a reassuring exit rate for Q3… - Sales rose 2.7% y-o-y incl. a forex impact of -3% and a slightly positive contribution from the number of working days (+0.6%). Organic growth was barely in line with expectations at 5% in Q2 adjusted for the number of working days (vs consensus at 5.2%), the slowdown vs Q1 (+7.4%) was nonetheless expected in light of the comparative base which was almost 3% more challenging. Organic growth remained sustain...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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