Adecco: first-quarter results ahead of consensus
(CercleFinance.com) - Shares of Adecco, the world's largest recruiter, rose on Tuesday morning, after the Swiss company posted a forecast-beating rise in its first-quarter operating margin.
Adecco said its "EBITA" margin rose by 20 basis points to 4% in the past quarter, helped by bank holiday timing in Germany, Austria, and Switzerland.
The staffing group also said that revenue growth exit rate in March and April was in line with the first quarter, but noted that gross margin in the second quarter will be impacted by the timing of bank holidays.
Adecco shares were trading up 1.7% at 58.70 Swiss francs on the SIX Swiss Exchange this morning, after peaking at 59.30 Swiss francs, and are currently the best performer in the SMI index.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
Adecco said its "EBITA" margin rose by 20 basis points to 4% in the past quarter, helped by bank holiday timing in Germany, Austria, and Switzerland.
The staffing group also said that revenue growth exit rate in March and April was in line with the first quarter, but noted that gross margin in the second quarter will be impacted by the timing of bank holidays.
Adecco shares were trading up 1.7% at 58.70 Swiss francs on the SIX Swiss Exchange this morning, after peaking at 59.30 Swiss francs, and are currently the best performer in the SMI index.
Copyright (c) 2019 CercleFinance.com. All rights reserved.