Adecco: revenue growth slows, shares drop

(CercleFinance.com) - Adecco shares fell on Thursday, after the Swiss staffing group said revenue growth decelerated in the second half of 2018, as growth in Europe slows.


The company said group revenue even dropped by 1%, trading days adjusted (TDA), in the fourth quarter of the past year, as European markets continued to slow.

This year, revenues for the month of January declined 2% TDA year-on-year, it added.

In its statement, Adecco cited "an increasingly challenging market backdrop."

In 2018, net income fell to 458 million euros, impacted by a goodwill impairment in Germany, the group added.

Shares of Adecco are currently down 3.4%, even though earnings slightly beat analysts' estimates. The stock has risen by over 17% year-to-date.

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