FINANCIALS: UK flat as Adecco falls on French decline
7 May 2013
The decline in staffing giant Adecco's European revenues is "starting to bottom out".
Tue, 7 May 2013The decline in staffing giant Adecco's European revenues is "starting to bottom out".
This is according to chief executive officer Patrick De Maeseneire, speaking as the group announced its Q1 2013 results showing an 8% decline in group-wide revenues at constant currency to €4.56bn (£3.84bn), with operating income dropping 31% to €116m.
The largest decline organically across the group, at 17%, occurred in its French operation – which had represented the group’s largest sector. France now represents 23% of the total group, having accounted for 30% in Q2 and Q3 2011.
UK & Ireland revenues were flat in constant currency, although in common with France there was a substantial drop in permanent activity (down 26%).
North America and the 'Emerging Markets' units were the only ones to see growth. The full results can be seen on the Adecco website.
This is according to chief executive officer Patrick De Maeseneire, speaking as the group announced its Q1 2013 results showing an 8% decline in group-wide revenues at constant currency to €4.56bn (£3.84bn), with operating income dropping 31% to €116m.
The largest decline organically across the group, at 17%, occurred in its French operation – which had represented the group’s largest sector. France now represents 23% of the total group, having accounted for 30% in Q2 and Q3 2011.
UK & Ireland revenues were flat in constant currency, although in common with France there was a substantial drop in permanent activity (down 26%).
North America and the 'Emerging Markets' units were the only ones to see growth. The full results can be seen on the Adecco website.
