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WASHINGTON & RIYADH - Maharah Human Resources Company has signed a brand license agreement with ManpowerGroup to operate under the global Manpower brand in Saudi Arabia, the company announced Thursday. The agreement was finalized during the U.S.-Saudi Investment Forum in Washington, D.C.
Under the agreement, Growth Avenue Investment Company, a wholly-owned subsidiary of Maharah, will operate the Manpower-branded business in Saudi Arabia. The partnership will enable the provision of human resources services including permanent and temporary staffing, professional recruitment solutions, outsourcing, and specialized workforce services.
Abdulaziz Alkathiry, CEO of Maharah, called the agreement "a defining moment" in the company's journey, particularly regarding its growth strategy and expansion in professional workforce solutions. The partnership aims to enhance Maharah's presence in high-skill recruitment and outsourcing services.
François Lançon, Regional President for Asia Pacific and Middle East at ManpowerGroup, stated that the collaboration strengthens the company's presence in the Gulf region and brings its global workforce expertise to the Saudi market.
ManpowerGroup, listed on the New York Stock Exchange (NYSE:MAN), operates more than 2,100 offices in approximately 75 countries and territories. The company provides integrated solutions in recruitment, professional services, and outsourcing across various sectors. Currently trading at $27.19, the stock is near its 52-week low and appears undervalued according to InvestingPro analysis. Despite recent market challenges with the stock down over 53% in the past year, ManpowerGroup maintains a strong dividend tradition, offering a 5.3% yield and having maintained dividend payments for 32 consecutive years.
Maharah Human Resources Company is a Saudi joint stock company listed on the Saudi stock exchange with paid-up capital of SAR 475 million. The company provides workforce solutions and professional services covering more than 240 professions across major sectors, according to the press release statement.Investors seeking deeper insights into ManpowerGroup's financials can access comprehensive analysis through InvestingPro, which reveals the company's $1.26 billion market capitalization and trading at a low revenue valuation multiple. InvestingPro offers 15+ additional tips and extensive metrics on ManpowerGroup, including detailed Pro Research Reports that transform complex Wall Street data into actionable intelligence.
In other recent news, ManpowerGroup reported its third-quarter 2025 earnings, surpassing expectations with adjusted earnings per share of $0.83, compared to the forecast of $0.81. The company's revenue for the quarter reached $4.63 billion, slightly exceeding the anticipated $4.6 billion. Despite these positive earnings results, concerns about gross margin performance led UBS to lower its price target for ManpowerGroup to $39, maintaining a Neutral rating. Similarly, Jefferies reduced its price target to $40, also citing margin pressure, while keeping a Hold rating on the stock.
Additionally, ManpowerGroup's Board of Directors declared a semi-annual dividend of $0.72 per share, payable on December 15, 2025, to shareholders of record as of December 1, 2025. These developments reflect ongoing market evaluations and financial adjustments within the company. The recent analyst actions and dividend announcement are crucial for investors to consider.
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