Upticks in payroll and human resources revenue helped payroll and benefits outsourcing provider Paychex Inc., post a 7 percent rise in first-quarter profits to $132 million, versus the results of last years first quarter for the period ended August 31.
The companys core payroll services grew 2 percent, to $360.7 million, while revenues from its human resources channel rose 10 percent to $145.5 million. The company said the payroll channel was helped by a 12-percent decrease in client losses and a 1.2 percent rise in checks per client.
Overall, first-quarter revenues rose 4 percent to $518.3 million versus the same period last year.
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