FINANCIALS: Adecco reports slight rise in performance

Recruitment giant Adecco has reported a marginal increase in year-on-year revenues for Q3 2018.

Results for the period, released this morning, reveal group revenues increased 2% on the same quarter last year, from €5.901bn (£5.15bn) to €5.996bn (£5.24bn), with the group’s career transition and talent development division seeing revenue increase 18% to €114m from €97m in the previous year.

Across its regions of operation, Italy saw the largest increase in revenue growth, up 6%, while North America, UK & Ireland revenue growth was flat for the group’s professional staffing business and was up 1% for its general staffing business on the same quarter last year.

Group CEO Alain Dehaze said: “As we communicated during our September investor seminar, trading in Q3 2018 was challenging, with growth slowing in a number of European markets. Against this backdrop, overall the group delivered a solid performance. Organic revenue growth was 2%, including improved performances in Japan and Rest of World, and another quarter of significant outperformance in France, our largest market.

“Our businesses responded decisively to the slowdown in market growth, making the appropriate cost adjustments to protect our margin. GrowTogether is now scaling up and delivering real results in the markets where it is most progressed, such as the US, UK and France. 

“We will deliver the €50m productivity savings target in 2018, on the way to €250m in 2020. And as we do so, we are further differentiating our solutions, building a digitally-enabled offering that will support future growth.”

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