AMSTERDAM: First-quarter revenue at Randstad Holding NV rose 6% on an organic basis, which excludes the impact of currency, acquisitions and divestitures and adjusts for working days. European markets fueled the growth, with revenue up 23% on an organic basis in Italy and up 10% on an organic basis in Belgium & Luxembourg.
Revenue edged up 1% on an organic basis in both North America, Randstad’s largest market and in the Netherlands, its second-largest market.
The company also began a new reporting segment called “Global Businesses” that includes Monster; outplacement provider RiseSmart, European freelance marketplace twago; and Randstad Sourceright, which includes recruitment process outsourcing and managed service provider solutions. Global Business revenue rose 16% on an organic basis in the first quarter to €299.8 million (US$321.9 million). Randstad reported the revenue increase was mostly driven by Randstad Sourceright; Monster sales growth fell 16%, in line with the fourth quarter.