Arab Today, arab today adecco profits soar as temp work bounces back in europe
Last Updated : GMT 00:00:20
Arab Today, arab today
Arab Today, arab today

Adecco profits soar as temp work bounces back in Europe

Arab Today, arab today

Arab Today, arab today Adecco profits soar as temp work bounces back in Europe

New York - AFP

The world's biggest temporary staffing group Adecco on Thursday announced a better-than-expected net profit for the first quarter, confirming that the long-depressed European market is on the rebound. For the first three months of the year, the Swiss company said its net profit swelled 64 percent to 110 million euros ($153 million). That beat the expectations of analysts polled by the AWP financial news agency, who had anticipated a net profit of 107 million euros ($149 million) for the quarter. Adecco's revenues meanwhile grew two percent to 4.6 billion euros ($6.4 billion) during the quarter, but the company stressed that excluding the negative impact of currency fluctuations it actually expanded 6.0 percent. The strong performance seemed to confirm that its long-struggling European market has indeed returned to growth. "Revenue growth continued to pick up in Europe, led once again by our Industrial business," company chief Patrick De Maeseneire said in the earnings statement. "Demand in manufacturing accelerated further, which is a good early-cycle indicator," he added. The Vontobel analysis firm hailed the better-than-expected results, pointing out that "momentum in Europe is building faster than anticipated"   Investors also responded positively, pushing the company's share price up 1.89 percent in mid-morning trading as the Swiss stock exchange's main SMI index rose just 0.39 percent. In France, the group's largest market, it saw sales inch up 1.0 percent during the quarter to one billion euros ($1.4 billion), driven by a 3.0-percent jump in its industrial activities, which account for the lion share of its revenues in the country. This marked the first time since late 2011 that Adecco's French business has shown growth. The company's office activities in the country however saw revenues plunge 16 percent during the quarter. Revenues meanwhile ballooned 16 percent on the neighbouring Iberian peninsula (Spain and Portugal), and 14 percent in Italy. In North America, Adecco's second largest market, the company saw its revenues rise 2.0 percent to 874 million euros. On a global scale, the company said it expected demand for temporary staffing to continue to grow this year. Recent positive reports from Adecco's main competitors also testify to that trend, with US company Manpower seeing its sales rise 3.0 percent in the first quarter, while Dutch firm Randstad posted a 4.0-percent hike.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today adecco profits soar as temp work bounces back in europe Arab Today, arab today adecco profits soar as temp work bounces back in europe

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today adecco profits soar as temp work bounces back in europe Arab Today, arab today adecco profits soar as temp work bounces back in europe

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today O'Leary: Could ground more planes

GMT 06:49 2017 Friday ,22 September

O'Leary: Could ground more planes
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Huthis stage defiant rally 3 years

GMT 05:29 2017 Friday ,22 September

Huthis stage defiant rally 3 years
Arab Today, arab today Saudi Arabia to unblock internet calling apps

GMT 11:31 2017 Wednesday ,20 September

Saudi Arabia to unblock internet calling apps
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today All eyes on May as she prepares

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares
Arab Today, arab today Puerto Rico, Virgin Islands brace

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mercedes pumps 1 bln euros    

GMT 06:04 2017 Friday ,22 September

Mercedes pumps 1 bln euros    
Arab Today, arab today Intel chips loaded in Waymo

GMT 14:43 2017 Wednesday ,20 September

Intel chips loaded in Waymo
Arab Today, arab today Youssra prepares for launching her  program

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program
Arab Today, arab today France hopeful of persuading Trump

GMT 06:21 2017 Wednesday ,20 September

France hopeful of persuading Trump

GMT 09:40 2017 Tuesday ,19 September

Actress Ream Hhagag prepares for a new film

GMT 18:09 2017 Thursday ,21 September

China lifts 10-year travel ban

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 19:18 2017 Monday ,18 September

5,000 'Dieselgate' deaths in Europe per year

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 18:03 2017 Thursday ,21 September

Alarm over flesh-eating ulcer cases

GMT 07:00 2017 Wednesday ,20 September

A no-frills business success

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday