Swiss human resources firm Adecco SA (ADO.L, AHEXY.PK) posted a plunge in fourth-quarter 2012 net income attributable to shareholders to 35 million euros, from last year's 133 million euros, with basic earnings per share falling year-on-year to 0.19 euros, from 0.71 euros.
Quarterly EBITA dipped to 148 million euros, from 217 million euros in the 2011 fourth quarter. Excluding restructuring costs, EBITA amounted to 194 million euros for the reporting period.
Revenues of 5.03 billion euros for the recent quarter, slipped by 3% year-on-year or down 5% in constant currency. Organically, revenues were down 6%.
During 2013, the company intends to invest 30 million euros to further optimise the cost base. Nearly one third of the investments are pertaining to the on-going consolidation of the data centres in North America, while the rest would be invested in further aligning the cost base to revenue developments in France and other countries.
Further, the board would propose a dividend of CHF 1.80 per share for 2012, for approval by shareholders, representing a pay-out ratio of 49% of adjusted net earnings, in line with the pay-out range of 40-50% of adjusted net earnings.
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