ManpowerGroup 2004 Annual Report Download - page 27

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MANPOWER INC. 2004 Annual Report25
An imperative as we move into the future is balancing our mix of business.
We have been making progress for several years, and 2004 marked the most
successful year that we have had in working toward this goal. Jefferson Wells
added $204 million of revenue for a total of $341 million in 2004; Elan, our IT
specialist brand, grew 39%, with total revenues of $540 million for the year; and
the acquisition of Right Management Consultants added $365 million in revenue.
These three brands alone generated $1.3 billion in total revenue in 2004. Most
importantly, these specialty services have enabled us to offer our customers the
complementary range and scale of services that is changing the landscape of our
industry by helping our customers to evolve their people strategies in ways that
no one else can.
Jefferson Wells, in particular, has made great strides in the past year, gaining the
trust and respect of top companies in the U.S. as they worked through the
mammoth task of the Sarbanes-Oxley compliance process. This work has
opened doors for the company to introduce clients to their full portfolio of internal
audit and controls, technology risk management, tax, finance and accounting
services. In addition to expanding Jefferson Wells’ network of offices in the U.S.
and Canada, 2004 marked the opening of its first office in Europe, located in
London. We expect this investment to pay off in 2005 and beyond, as the U.S.
continues to work through financial reform measures, and Europe embarks on its
own journey toward greater accountability in corporate governance.
LETTER TO SHAREHOLDERS