Germany and North America improved as blue-collar and temporary staffing led the rebound; gross margin was 18.2%, just below the 18.3% analyst consensus.
Randstad reported second-quarter organic growth of 1.9%, beating the 1% expectation in a company-provided analyst consensus, as executives said hiring demand showed early signs of improvement after a labor-market downturn that has weighed on staffing firms for more than two years. Germany and North America strengthened, with revenue in each region up 4% year on year. In the United States, growth was led by a 13% increase in operational, or blue-collar, staffing, while professional staffing revenue fell 6%. Gross margin was 18.2%, slightly below the 18.3% forecast. CEO Sander van't Noordende said most markets are now growing, volumes improved further into July, and larger clients are returning first while smaller businesses remain cautious.