Adecco: stock up after quarterly results.

(CercleFinance.com) - The Adecco share is up 0.
5% in Zurich this morning, after the recruitment group reported Q1 earnings of 176 million euros, with adjusted EBITA up 19% at 273 million euros, exceeding the consensus.

The Swiss group improved its adjusted EBITA margin by 50 basis points to 4.8%, on revenues - which were also better than expected - of over 5.7 billion euros, up 6% in organic terms and when adjusted for calendar effects.

An analyst at Aurel BGC said that growth slowed slightly between March and April, reaching 5%-6%, adjusted for working days. Adecco has not provided any annual forecasts, but has mentioned a positive momentum.


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