FINANCIALS: Adecco continues to post profits

Recruitment giant Adecco has posted a marginal increase in revenue year-on-year, according to full-year results for 2018.

The results, released this morning, reveal full-year 2018 revenue was up 1% – from €23.6bn (£20.1bn) to €23.8bn, with gross profit up 2% from €4.34bn to €4.43bn year-on-year.

For Q4 2018, the group posted revenue of €6.12bn, up from €6.05bn, amid a continued deceleration across most European markets, driven in particular by France, Germany and Italy. The group posted GP of €1.16bn, up from €1.08bn in Q4 2017.

However, a net loss was incurred over the quarter of €112m, compared with a profit of €297m in 2017, which the group attributed to a goodwill impairment of €270m in the quarter in Germany.

Over the full year, Italy was the group’s standout performer, with revenue up 9% year-on-year, while revenues were down 2% for the group’s DACH region (Germany, Austria and Switzerland) and its North America, UK & Ireland professional staffing business.

In Q4 2018, the group’s stand-out performer was its Japanese business, which saw revenue climb 6% year-on-year, while its DACH region business saw revenue fall 9% on Q4 2017.

Group CEO Alain Dehaze pointed to a strong performance, despite an increasingly challenging market backdrop in Europe: “While revenues declined by 1%, we outperformed in a number of key regions, including France, US General Staffing and Italy. Underlying profitability also further improved in Q4 2018, building on the positive trend of the prior quarter.

“The GrowTogether programme is scaling up and driving productivity improvements, which supported improved operating margins in most regions in Q4. As we optimise and digitise internal processes, we reduce costs and also increase client and candidate satisfaction, as evidenced by a five-point improvement in NPS [net promotor score] in 2018.

“And we innovated, by adding unique businesses to our portfolio of New Ventures, including General Assembly (up-/re-skilling) and Vettery (digital permanent placement). Combined with the strengths of our existing brands, we are creating a 360˚ service offering to support our customers across the whole HR solutions landscape, online and offline.”

• 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

FINANCIALS: Staffline claims Brexit is affecting temp to perm transfers

Recruitment and training group Staffline claims Brexit uncertainty is affecting demand for temporary workers.

Financials 17 May 2019

Eight recruiters among the top 1,000 wealthiest in the UK

Several recruiters are among the seriously loaded in this year’s Sunday Times Rich List.

People 13 May 2019

FINANCIALS: ClearStar posts positive results with strong rise in revenues

US background checking firm ClearStar has seen revenues rise 13% year-on-year.

Financials 13 May 2019

FINANCIALS: 51job posts rise in revenues

51job, a provider of integrated human resource services in China, has seen revenues rise 12.4%, according to unaudited financial results for the first quarter of 2019 ended 31 March, 2019.

Financials 10 May 2019