Adecco Group (AHEXY.PK, ADO.L), a Swiss provider of human resources solutions, reported Tuesday stable net profit in its second quarter, while earnings per share increased from last year. Meanwhile, adjusted EBITA and margin fell from last year with slightly lower revenues.
Looking ahead, the company said that in the third-quarter to date, positive momentum continues. For the quarter, the Group expects gross margin to rise sequentially, in line with seasonality.
The Group firm expects profitability to improve from first-half levels as it progresses through the second half.
In the second quarter, net income attributable to shareholders remained at 58 million euros, while earnings per share grew to 0.35 euro from 0.34 euro a year ago.
Adjusted earnings per share were 0.46 euro, compared to prior year's 0.64 euro.
Adjusted EBITA was 141 million euros, down 21 percent from 179 million euros a year ago. Adjusted EBITA margin was 2.5%, down 60 basis points from 3.1% last year.
Revenues dropped 1 percent to 5.78 billion euros from 5.84 billion euros in the prior year. Organically, revenues were flat. Volumes improved through the quarter, the company noted.
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