ManpowerGroup reports lower profit on foreign currency exchange

Milwaukee-based global staffing and workforce solutions firm ManpowerGroup today reported second quarter net income of $105.7 million, or $1.33 per share, down from $109.8 million, or $1.35 per share, in the second quarter of 2014.

Operating profit was $178.7 million, down from $187.4 million in the same period a year ago.

Revenues totaled $4.9 billion in the second quarter, down 9 percent from $5.3 billion in the second quarter of 2014.

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The company attributed the decrease to unfavorable foreign currency comparisons. On a constant currency basis, revenues were up 7 percent year-over-year and earnings per share increased 16 percent from the second quarter of 2014.

“We are pleased with our strong second quarter results, capping off a good first half of 2015,” said Jonas Prising, chief executive officer of ManpowerGroup. “The labor markets continue to improve across the globe, although at a slow and uneven pace in some countries.
“It is rewarding for our team to experience solid growth in a number of our geographies, with very strong growth in Italy, Mexico, Spain and the UK. With our market leading brands and solutions we are well placed to take advantage of profitable growth opportunities also in the second half of the year.”

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