Randstad profits leap 6-fold, sees gradual recovery

Dutch temporary employment agency Randstad posted a six-fold profit leap for 2013 on Thursday, saying it was expecting "gradual recovery" this year. The Amsterdam-based group made a net profit of 231 million euros ($316 million) last year, up from 36.7 million euros in 2012, mainly due to a smaller depreciation of fixed assets. Full-year turnover dipped by 3.0 percent from 17.08 billion euros to 16.53 billion last year, but was up by 1.0 percent in the fourth quarter, Randstad said in a statement. "Growth continued throughout the fourth quarter of 2013, confirming a gradual recovery," group chief executive Ben Noteboom said. The group said it proposed a dividend of 0.95 euro per ordinary share. Noteboom, who has been heading Randstad since 2003 announced last he would be handing over chairmanship to Jacques van Broek, 53, by the end of February. Employing around 30,000 people in 39 countries, Randstad had turnover of 17.1 billion euros in 2012.