Adecco profits boosted by MPS Group and Spring integration
Patrick De Maeseneire, Adecco
Adecco’s group profits have already benefited from the international staffing group’s integration with MPS Group and Spring to the tune of around €10m, according to Dominik de Daniel, chief financial officer of the Adecco Group.
Adecco acquired MPS, whose UK brands include Badenoch & Clark, Judd Farris and Modis, in January and Spring in October 2009.
De Daniel said that with front offices due to be consolidated by Q2 and back offices by the end of 2010, Adecco was in line to achieve synergies of €13m (£11m) and €25m from the Spring and MPS integrations respectively.
Patrick De Maeseneire, chief executive of the Adecco Group said that as a result of the acquisition of Spring and MPS the proportion of revenue from the higher margin segment of the market is expected to increase to 30% in the mid term.
