logo
Plus   Neg
Share
Email

Adecco FY19 Profit Climbs, Revenue Down; Sees Profit Growth In FY20

Adecco Group (AHEXY.PK,ADO.L), a provider of human resources solutions, reported Wednesday that its fiscal 2019 net income attributable to shareholders climbed 59 percent from last year to 727 million euros.

EBITA margin excluding one-offs was 4.6 percent, up 10 basis points from last year.

Revenues, meanwhile, dropped 2 percent from last year on a reported basis, and was down 3 percent organically and trading days adjusted or TDA. The company noted that economic growth and staffing markets slowed in Europe and North America.

In the fourth quarter, revenues went down 3 percent year-on-year, and down 4 percent organically and TDA.

The company noted that revenues in January 2020 was down 5 percent TDA year-on-year, with volumes in February indicating a similar trend.

Looking ahead, Alain Dehaze, Group Chief Executive Officer, said, "2020 will mark the final year of our current strategic cycle and focus remains on delivering further margin improvement and profitable growth. … We remain committed to achieving the EUR 250 million GrowTogether productivity target for 2020."

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The German government has approved a 9 billion euros rescue package for Deutsche Lufthansa AG (DLAKF, DLAKY), which is the largest German corporate rescue package since the coronavirus crisis struck. The airline has also agreed to the rescue deal. JetBlue Airways said it will continue to block middle seats in rows where passengers are not traveling together through the July 4 holiday. JetBue will block middle seats on its Airbus aircraft, while it will block aisle seats on its smaller Embraer 190 aircraft. Customers traveling together will be allowed to sit in the middle and aisle seats. The U.S. Food and Drug Administration or FDA announced on its website that New Hoque and Sons, Inc. is recalling Radhuni Curry Powder distributed in New York City, New York due to potential Salmonella contamination. The recall was made after it was found that the finished products contained several strains of Salmonella, the company said.
Follow RTT