Helped by gains of 8 percent and 18 percent in its core payroll and human resources services units, respectively, payroll and benefits outsourcing concern Paychex Inc. posted a 13 percent rise in third-quarter profits, to $142.5 million for the period ended February 29.
The Rochester, N.Y.-based company said that revenues for its payroll and human resources arms were $374.2 million and $120.6 million, respectively. Paychex attributed the revenue jump in its payroll division to client base growth, higher check volume and price increases.
Meanwhile, revenue for the third quarter rose 10 percent, to $532.2 million.
