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UPDATE 1-Randstad says temp staffing growth continues
November 25, 2010 / 7:57 AM / 7 years ago

UPDATE 1-Randstad says temp staffing growth continues

* 17 pct organic growth in October, pattern continues in Nov

* Growth in some segments slows in U.S., Germany

(Adds detail)

AMSTERDAM, Nov 25 (Reuters) - Dutch staffing company Randstad NV (RAND.AS), the world’s second-largest, said on Thursday demand for temporary staff continued to grow in October and November, helped by U.S., German and French operations.

Last month, Randstad said companies were hiring more temporary staff in the face of a fragile recovery, following a wider trend of improving employment in western Europe, especially in Germany, where exports have helped push the jobless level to its lowest in 18 years. [ID:nLDE69R0TZ]

Randstad said in a statement that revenue per working day grew 17 percent organically in October, compared to the same month a year ago, and saw no major changes in that pattern this month.

Economic uncertainty has also helped Switzerland’s Adecco ADEN.VX, the world’s biggest temp agency by sales, and U.S.-listed Manpower (MAN.N) to beat profit estimates. [ID:nLDE6A70PG]

Growth in early cycle segments such as U.S. staffing and inhouse -- where Randstad manages a complete human resource process at a company -- as well as the German operations was gradually slowing down but was still between 22 and 32 percent, Randstad said.

Randstad said it would continue to aim for an earnings before interest, tax and amortisation margin of 5 to 6 percent throughout the cycle and it was “fully committed to realise enhanced returns in 2011”. (Reporting by Gilbert Kreijger; Editing by Sara Webb)

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