* Randstad's Q3 underlying EBITA at 191 million euros * Expects "slightly higher" gross margin, operating expenses in Q4 * Organic revenue decline narrows (Adds CFO comment in para 7, CEO comments in para 11-13) Oct 22 (Reuters) – Headhunter Randstad on Wednesday reported a third-quarter operating profit of 191 million euros ($223 million), beating an analyst consensus of 182 million polled by the company. Chief executive Sander van 't Noordende said that "strong cost discipline" was in part responsible for driving progress in the last quarter. The company said it expected next quarter's gross margin and operating expenses to be "slightly higher" given summer specific demands such as hospitality and student gigs. Stabilising results Recruiters have found themselves in a tight spot as an on-again-off-again global trade war and economic struggles in major European economies cloud labour markets. Previous signs of stabilisation continued however as the year-on-year decline in organic revenue reported in previous quarters narrowed to -1.2% from -2.3% in Q2. Permanent hires remain stuck at very low levels as uncertainty continues, CFO Jorge Vazquez said in an interview, but noted the flip side being that Randstad's flexible work models provide a certain resilience. REVENUE DROPS IN NORTH AMERICA Randstad's results offer a snapshot of American labour market health as a lingering U.S. shutdown has halted official employment data. Revenue for the North American region, accounting for about a fifth of total revenue, dropped 1% compared to last quarter. Randstad said its combined U.S. businesses dropped the same amount. "The labour market in the US, as in multiple markets in Northwest Europe, is pretty stagnant," van 't Noordende said. He remained positive longer term, noting strong GDP growth in America and expecting AI investments to scale up in the long run even if short-term gains remain muted. ($1 = 0.8575 euros) (Reporting by Jakob Van Calster; Editing by Matt Scuffham)
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