Recruiter Randstad's core profit meets market estimates in Q2
The world's largest employment agency posted quarterly earnings before interest, taxes and amortization (EBITA), and before one-offs, of 171 million euros ($200.63 million), roughly in line with the average forecast of 170 million from analysts polled by Randstad.
Recruiters including Randstad, Adecco and Hays have voiced concerns about the worsening job market driven by an escalating global trade war and economic struggles in major European markets like Germany and France.
In the second quarter, the underlying core profits in these markets still faced difficulties, with a narrowing EBITA loss in Germany and an organic earnings decline of 14% in France.
Randstad said it expected its gross margin and operating expenses to be slightly lower in the third quarter than in the previous three months.
($1 = 0.8523 euros)
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