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RANDSTAD SOARS 20 % AS KEY LABOUR MARKETS IMPROVE , DRIVING REVENUE AND EARNINGS

Randstad shares jump 20% on improving labor markets driving revenue and earnings.

Context

What happened: Randstad shares jumped after the recruiter reported third-quarter sales and profit that beat analyst forecasts, helped by improving labour markets. Key numbers: Shares rose 20% in Amsterdam by 0915 GMT. Organic revenue grew 3.9% versus a 2.9% forecast. Core earnings were €211 million versus a €200 million view. Why it matters: The move put Randstad on track for its best trading day in 24 years, and management said it expects a big step up in profitability, with the CEO pointing to PMI and GDP indicators moving in the right direction. Coverage: 3 outlets in 24h

What changed

Randstad shares jumped after the recruiter reported third-quarter sales and profit that beat analyst forecasts, helped by improving labour markets.

Why it matters

The move put Randstad on track for its best trading day in 24 years, and management said it expects a big step up in profitability, with the CEO pointing to PMI and GDP indicators moving in the right direction.

Sources

gdelt