ManpowerGroup profit up 9% in Q1

Increase driven by U.S. segment

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Milwaukee-based staffing and workforce solutions firm ManpowerGroup today reported a 9 percent increase in first quarter profits, driven in part by a jump in profits in its U.S. segment.

ManpowerGroup headquarters
ManpowerGroup’s global headquarters in downtown Milwaukee.

First quarter net income was $71.7 million, or 98 cents per diluted share, up from $65.7 million, or 83 cents per share, in the first quarter of 2015.

Operating profit for the company’s U.S. segment increased more than 30 percent year-over-year, to $22.8 million.

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ManpowerGroup’s first quarter revenue totaled $4.6 billion, up from $4.5 billion in the same period a year ago.

The strong U.S. dollar had an unfavorable impact on results, to the tune of 3 cents per share, in the first quarter.

“The global environment continues to be uneven, with some countries continuing on their path of slow and steady growth and others struggling to gain traction,” said Jonas Prising, chairman and chief executive officer of ManpowerGroup. “This is the kind of environment where our workforce solutions can be instrumental in helping companies execute their business strategies, and at the same time provide millions of job seekers with opportunities for quality employment.”

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ManpowerGroup has more than 400,000 clients in 80 countries and territories. It had $5.2 billion in total assets at the end of the first quarter, up from $5.1 billion at the same time last year.

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