Randstad’s Q3 results were above consensus estimates across the board, with a stronger beat on profitability compared to revenues. Organic revenue growth was decent and benefitted from growth across all categories. The gross margin improved yoy due to a favourable mix and price actions. This translated into higher EBITA and a superior EBITA margin. For Q4, the group expects the gross margin and operating expenses to be in-line sequentially. In our opinion, revenue growth could be slightly softer ....
