Staffing agency USG People hit in Q4

Staffing agency USG People saw a sharp downturn in earnings in the final quarter of 2008 as companies cut back on their temporary workforce.

The company booked a loss of €77m in the final quarter, compared with profit of €36m in the year-earlier period. The figures were presented on Wednesday.
Sales fell slighly to €952m, with the downturn most marked outside the Netherlands and Belgium, where demand is largely dependent on industrial production, the company said.
Over 2008 as a whole USG People booked net profit of €17m, compared with €140m in 2007. Turnover was up 4% at over €4bn.

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