FINANCIALS: Adecco sees group profit rise despite mixed UK results

Adecco has seen group revenue and gross profit rise amid mixed fortunes for the recruitment giant’s UK business, according to Q2 and H1 results.

The results, out this morning, reveal Q2 2017 revenues of €5,972m (£5,388m) from €5,696m, up 5% year-on-year, and H1 2017 revenue of €11,702m from €11,028m in the previous year, an increase of 6%.

The group also saw gross profit increase to €1,091m up from €1,071m in Q2 2017 and to €2,169m up from €2,082m in H1 2017.

Within the group’s UK & Ireland general staffing business Q2 revenues rose 8% year-on-year, buoyed by strong growth for the group’s retail and in local government divisions.

However, the group’s UK professional staffing business saw Q2 revenues fall 6% caused by declines within the group’s IT and finance & legal business. 

Commenting on the results, group CEO Alain Dehaze pointed to “robust” revenue growth: “Our performance continued: revenue growth was robust, driven in particular by strength in France, Italy, Iberia and Benelux. We maintained our focus on productivity, with an increase of only 1% in FTE [full-time equivalent] employees to deliver 6% underlying revenue growth, and cash conversion was again strong.

“Alongside driving our performance, we are continuing to transform and innovate to capture the opportunities we see in our markets. We are investing in IT infrastructure and digital innovation: we signed a new global partnership agreement with Mya Systems, a leading AI player in HR tech; we launched our digital Active Placement model in Lee Hecht Harrison; and we commenced the rollout in the UK of Adia, our end-to-end online staffing platform.”

• Want to comment on this story? Email us at or tweet us below to tell us your thoughts. We will run comments online in a round-up at the end of the week.

Email story to a friend

FINANCIALS: Korn Ferry reveals rise in revenue

Global executive search firm Korn Ferry has seen revenue rise 13% year-on-year, according to full year and Q4 2018 results.

Financials 14 June 2018

FINANCIALS: Harvey Nash posts rise in UK & Ireland profits

Global technology recruiter Harvey Nash has seen UK & Ireland gross profit rise 20% year-on-year, according to a trading update.

Financials 6 June 2018

FINANCIALS: Hydrogen Group performs in line with expectations

Hydrogen Group is performing in line with current market expectations, according to a statement released ahead of the global recruiter’s annual general meeting today.

Financials 25 May 2018

InterQuest chairman presses to delist company from AIM

InterQuest’s chairman has reiterated his desire to delist the technology recruiter from AIM.

Financials 24 May 2018