Recruitment giant Adecco has seen revenues rise due to ‘significantly’ improved trading conditions, according to the firm’s Q1 results.

Adecco’s results reveal:

• Group revenues of €4bn (£3.4bn), up 7% to compared to Q1 2009
• Permanent placement revenues of €61m, up 17% in constant currency (-5% organically) and outplacement revenues of €63m, down 26% in constant currency
• Earnings before interest, tax and amortisation (EBITA) up 162% to €113m
• Operating income of €100m, up from €30m in Q1 2009

Patrick De Maeseneire, chief executive at the Adecco Group, says: “In the first quarter of 2010, trading conditions improved significantly in most markets and the revenue decline rate for the Group improved to -1% organically from -18% in Q4 2009.

“We saw very good demand progression primarily in the general staffing segment in our main markets France and North America, where revenues returned to year-on-year growth in Q1 2010.

“Pricing remained competitive, but we maintained our discipline and were able to achieve a gross margin of 18%, also thanks to our increased exposure to professional staffing.

“Looking into the second quarter, we continue to see good revenue developments in the majority of our markets. We will continue our strong cost control, which together with our disciplined pricing, position us very well to take full advantage of the improving economic conditions.”