Randstad posts Q3 profit slightly above expectations

(Reuters) - Randstad, the world's largest employment agency, on Tuesday reported quarterly profit slightly above expectations as trading conditions stabilized across some of its markets despite a challenging macroeconomic environment.

Globally, hiring has slowed as workers avoid the risk of switching jobs in an uncertain environment and employers are reluctant to recruit due to inflation and higher interest rates.



"We have continued to focus on execution and operational discipline, balancing field capacity with strategic investments," CEO Sander van‘t Noordende said in a statement.

Randstad also announced its intention to buy Zorgwerk, a Dutch digital healthcare marketplace, in a deal worth about 323 million euros.Third-quarter earnings before interest, taxes and amortization (EBITA) before one-off items came in at 196 million euros ($212 million), slightly above the 192 million expected by analysts on average in a company-provided consensus.($1 = 0.9242 euros)

Source: Investing.com