Propelled by double-digit revenue gains in its service and human resources units and an 8 percent spike in its core payroll division, Paychex posted a 12 percent rise in profits for fiscal 2008, to $576 million, for the period ended May 31.
The payroll and benefits outsourcing concern headquartered here said service and human resources revenue rose 10 percent and 19 percent for the year to $1.9 billion and $500 million, respectively.
Meanwhile its payroll division posted a jump of 8 percent to $1.5 billion.
Total revenue for the year rose 10 percent to $2.1 billion.
