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.”

• Comment below on this story. You can also tweet us to tell us your thoughts or share this story with a friend. Our editorial email is [email protected]

FINANCIALS: Empresaria reveals fall in profits, but Offshore Services delivers growth

Empresaria’s Offshore Services operations proved to be the shining light in the company’s fortunes in 2023, according to the global specialist staffing group’s annual results.

Financials 27 March 2024

Revenue growth of almost £4m in Norman Broadbent year-end results

Norman Broadbent has revealed its best financial results in over a decade.

Financials 27 March 2024

Loan Charge campaigners ‘frustrated’ as HMRC ‘airbrushes’ history

The Loan Charge Action Group (LCAG) has reinforced its calls for a parliamentary inquiry as the loan charge continues to weigh heavily on Westminster.

Legislation 19 March 2024

Bain and Gray moves to employee ownership trust

London, Soho-based executive secretarial and PA recruiter Bain and Gray has announced its transition to an Employee Ownership Trust (EOT).

Financials 23 January 2024
Top