Adecco Reports Solid Q3 2012 Results
Adecco Group today announced results for the third quarter of 2012. Revenues were flat or down 5% organically, to €5.3 billion. Excluding currency effects and acquisitions, revenue fell 5% compared with a 4% fall in the second quarter. Adecco’s third quarter net profit fell 18% to €118 million, slightly better than expected.
In North America, Adecco’s revenues increased 3% organically to €977 million in Q3 2012. General staffing revenues increased 2% in constant currency and professional staffing revenues grew by 5% organically. The North American IT Professional Staffing segment grew 6% year-on-year organically in Q3 2012, driven by solid growth in the U.S. of 8% organically. Permanent placement revenues continued to develop strongly, up 15% organically.
“We are quite optimistic for the U.S.,” said Adecco chief executive Patrick De Maeseneire, highlighting good demand for information technology, medical and scientific, finance and legal, and logistics.