The net profit level of some 333 million guilders ($175.5 million) came bang in line with forecasts of analysts, who had pencilled in a rise of between 317 and 347 million guilders, with a consensus at 332 million.

Randstad shares, however, shed more than 11 per cent to hit a low of 36.40 euros in early trade. In its outlook, Randstad said it expected further profitable growth in 1999 and that the temporary employment market would grow by an average of some 10 per cent in the next decade.

The company repeated its forecast it would exceed the market's pace, both in turnover and in profit growth. One analyst said this represented a slowdown from 1998. Other analysts said the results and outlook statement offered no surprises.

``Their outlook is the same as usual with an average annual market growth of 10 per cent while exceeding market growth,'' analyst Jurgen Veenker of MeesPierson said.

Although second half growth of temporary employment markets had lagged behind, all Randstad units increased their market share, the company said.

The provisional turnover figure showed a 31 per cent increase from 1997 to about 9.3 billion guilders or 4.2 billion euros.