Jan 30 ManpowerGroup Inc, the world's
No.3 staffing company, said it expected revenue to be flat to up
2 percent in the current quarter, even after its quarterly
profit doubled as hiring picked up in Europe.
The company, which gets two-thirds of its revenue from
Europe, said it remained "guarded" on revenue growth in the
"(The revenue growth outlook) could disappoint some people,
but it's more likely than not the seasonality factor than any
slowdown in the business," Jefferies & Co analyst Dan Dolev
Manpower also forecast earnings of 62-70 cents per share for
the first quarter, in line with the average analyst estimate of
69 cents, according to Thomson Reuters I/B/E/S.
Manpower's net income jumped to $101.2 million, or $1.25 per
share, in the fourth quarter ended Dec. 31 from $53.3 million,
or 68 cents per share, a year earlier, as demand for temporary
workers rose in Europe.
Companies tend to hire temporary workers in times of
economic uncertainty as they are reluctant to commit to
Manpower earned $1.49 per share, excluding a charge of $26.5
million related to cost cutting.
Revenue rose 1 percent to $5.25 billion. Revenue from Europe
increased 5.5 percent.
Analysts on average had expected earnings of $1.25 per share
on revenue of $5.21 billion.
Manpower's shares closed at $79.36 on the New York Stock
Exchange on Wednesday. The stock rose about 66 percent in 2013.