Milwaukee-based ManpowerGroup Inc. today reported first quarter net income of $65.7 million, or 83 cents per share, down from $70.1 million, or 88 cents per share, in the first quarter of 2014.
Operating profit was $122.8 million, down from $126.9 million in the same period a year ago.
Revenue totaled $4.5 million, down 7.4 percent from $4.8 million in the first quarter of 2014. The company attributed the decrease to foreign currency translation. On a constant currency basis, revenues would have increased 7 percent, while earnings per share would have increased 16 percent.
“2015 is off to a strong start as we built on the progress we made last year delivering good results in the first quarter,” said Jonas Prising, chief executive officer. “It is encouraging to see the early signs of more broad based improvement in Europe, setting the stage for what we believe could be a slow but sustained labor market recovery in that region. The strong start to the year gives us confidence that we are on the right track and that our focus on permanent recruitment and our market leading solutions offerings continues to pay off. We are well placed to seize further opportunities as economic trends improve.”
