Randstad Holding NV reported Thursday that the Dutch staffing company made a profit in the fourth quarter, citing a growth in its U.S. operations for the first time in three years, according to Associated Press.
Randstad, the world's second-largest supplier of temporary employees, earned euro46 million ($62.5 million) in net profit, against a loss of euro233 million a year earlier, when it took a large charge after its acquisition of Vedior NV. Sales dropped 19 percent to euro3.18 billion.
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Randstad purchased Vedior NV for euro3.5 billion in May 2008, making it the second largest staffing company behind Switzerland’s Adecco SA of and ahead of American company Manpower Inc. (NYSE: MAN).
The company said Thursday that the company improved from the third quarter despite a drop in sales and profits in most regions from a year ago.
Randstad said its U.S. businesses started to recover in the summer, followed by Britain and then continental Europe.
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