Adecco: Q2 earnings down 6%

(CercleFinance.com) - Adecco Group has announced Q2 earnings that are down 6% to 159 million euros, or 0.
98 euro per share, with an EBITA margin excluding extraordinary items of 4.5%, for revenues that are down 2% at 5.92 billion euros (-4% in organic terms).

The Swiss human resources group says that the fall in revenues in organic terms reflects market conditions - particularly slower growth in Europe. However, the group points out a 70 basis point improvement in its gross margin to 19%.

“Our GrowTogether transformation programme underpinned robust productivity growth... We are on track to deliver our target of a further EUR70 million of productivity saving from GrowTogether in 2019," said group CEO, Alain Dehaze.


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