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Companies hesitation to hire permanent staff has resulted in revenue growth for temporary staffing company manpower group.
First quarter earnings out this morning they'd beat the street's estimates.
Joining me now for a first -- -- interviewed Jeffrey Jerry's he's manpower groups.
CEO -- looking at the stock right now you are trending higher about three and a half percent right now looks like the street lights the earnings.
A what did you do of the quarter do you think.
That really -- used analyst investor sure.
-- It's a couple things one is our top line was a little bit stronger it still you don't really down at the level of of of just of mild recovery I mean normally during any kind of recovery periods.
We're well into the double digits but -- With 75% of our business in Europe I think there was a sense that while things are gonna be really bad and in fact what we're seeing usually not much change.
Kind of a low level of growth the growth of real the real.
Things that came out of there was -- solutions business what we're doing with permanent recruitment how we're bundling some of our services.
And that's now growing over 20% and what we're seeing is that is actually being a little drop to the bottom line resulting in almost an 18% increase in -- -- -- in our net income.
Do you think you're gonna see an escalation and obviously you gave your forecast but do you think that there's gonna be an escalation in your opinion.
Over the next two to three quarters the company is coming to you not just for temporary -- but -- what you mentioned permanent staffing solution I think that that's actually gonna -- for you bottom line.
It it clearly what's gonna grow as a secular -- so we're we're we're achieving many more clients were receiving a lot of business where they are actually outsourcing to us.
They're recruiting of their own staff because they want to remain flexible the challenges of course is how many of it out of this after the -- then need recruiting.
So so would GDP growth in the US starting to move up just a little or or or at least get stabilized.
We really see that you know we could have some some sluggishness over the next quarter to -- but our company and what we're doing in driving more more clients better margin of those clients really set us up well so that -- -- get out of this quagmire whether it be the European quite -- -- the election stuff that's happening in the US is really set to really -- and very much poised to catapulted forward.
Let's look at the numbers how to get the quarter -- just kind of quickly with you had a profit of forty point 2000050 cents a share.
Up from a year earlier -- got to deliver for the next quarter and especially next year do you think you're gonna have to -- your business more into the US and Europe or do you think -- interceptor business.
A wave from year US and in European companies because frankly we don't know what's gonna happen with the US in the European economies are now.
Right there's no doubt about that so so clearly that the best growth that we're seeing -- pulse on the profitability side is.
Is our emerging markets the establishment meant that we have in China and India Vietnam.
-- by far we have the largest footprint we've been there for a long time we took those if you will investment losses several years ago in fact we took them during the downturn.
We expanded in China during -- that the toughest parts in 2009.
Knowing that that was gonna come back so our emerging markets are strong.
But we can't underestimate that that that they're still real secular growth happening as soon as we get out of some of the challenges in Europe.
Now will that be one quarter to quarter I'm not sure.
So -- were being much more selective on the business were taking.
We're being careful on our pricing both in the US and in Europe meanwhile what we're seeing is a is a nice growth rating in in emerging markets and and the best position we've ever had.
Jeff my final question it's the easiest question for you where are the jobs right now.
And they're everywhere but they're actually nowhere and what I mean by that is there's a big skills -- companies are being very very selective in whom they're hiring it's making it harder -- -- -- very hard on the individuals because.
What well there is demand out there we are seeing some hiring forget about the labor numbers that came out you know just a few days ago I think we're gonna see a little bit of recovery.
Companies are very selective they're gonna look for the perfect match and if they don't have -- they're gonna pass and wait for the next one.
Real quick any advice to those that are going after jobs right now.
Stay flexible make sure that you continue to learn increase -- resonate even if you're out of a job and while you're in a job.
Keep learning and -- that that real curiosity because companies are looking for.
The the ability for the person that changes their company's change because change is happening very rapidly.
Geoffrey jurists manpower -- CEO nice quarter thanks for coming on the Chelsea in three months thank you Jeffrey thank you to have.
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