Bloomberg Anywhere Remote Login Bloomberg Terminal Request a Demo


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Brunel Shares Have Record Drop on Restatement: Amsterdam Mover

March 1 (Bloomberg) -- Brunel International NV, the Dutch staffing company that operates in 34 countries, slumped as much as 25 percent after the company restated revenue and profit from the Americas region.

Brunel shares had their steepest intraday decline since they began trading in June 1997. The stock traded 22 percent lower at 30 euros as of 10:45 a.m. in Amsterdam, valuing the company at 727 million euros ($949 million). More than 980,000 shares exchange hands, 20 times the six-month daily trading average.

The company overstated earnings before interest and tax by 9.7 million euros and revenue by 16.8 million euros during 2011 and 2012, and the correction was made in the fourth quarter of 2012, Brunel said in a statement today. Total fourth-quarter earnings before interest and taxes fell 56 percent to 8.7 million euros, the company said.

“Brunel this morning shocked with both disappointing full-year results and bookkeeping corrections,” Marc Zwartsenburg, an Amsterdam-based analyst at ING Groep NV with a buy recommendation on the stock, said in a note. “We stress that the books are cleaned now and issue resolved, but this will weigh on sentiment.”

To contact the reporter on this story: Fred Pals in Amsterdam at

To contact the editor responsible for this story: David Risser at

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.