Manpower profit surges as hiring picks up in Europe

Thu Jan 30, 2014 7:48am EST

Jan 30 (Reuters) - ManpowerGroup Inc, the world's No.3 staffing company, said its fourth-quarter profit nearly doubled, helped by improved hiring in Europe and cost-cutting measures.

The company's net income jumped to $101.2 million, or $1.25 per share, in the fourth quarter, from $53.3 million, or 68 cents per share, a year earlier.

Excluding items, Manpower earned $1.49 per share. The results include a restructuring charge of $26.5 million related to a cost-cutting plan.

Revenue from Europe, which accounts for two-thirds of the company's sales, rose 5.5 percent.