Randstad jumps 7% after Q2 revenue growth tops estimates
BUZZ-Randstad jumps 7% after Q2 revenue growth tops estimates ** Shares in Dutch recruiter Randstad RAND.AS rise around 7% after its quarterly organic growth beat expectations and labour markets showed signs of improvement
** Q2 organic revenue growth came in at 1.9%, ahead of a company-compiled consensus of 1%, while organic adjusted EBITA rose 8% versus consensus expectations for 4%
** RBC says overall the results represent "a decent performance", driven by stronger-than-expected growth, though it brands the gross-margin miss and guidance for a slightly lower margin next quarter as "disappointing"
** Jefferies also says improving sales more than offset the gross-margin shortfall, adding that the results could drive "low- to mid-single-digit" upgrades to consensus core-profit estimates for the next quarter
** Randstad's results leave the shares up around 5% year to date, after previously hitting a roughly 33% low in April
** Swiss recruitment firm Adecco ADEN.S rises around 3% with British peers Hays HAYS.L and Michael Page PAGE.L trading flattish at market open
(Reporting by Jakob Van Calster)