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Showing posts from November, 2022

Adecco profits soar as temp work picks up in Europe

Adecco, the world's largest temporary employment agency, reported a 61% jump in third-quarter profit in the past. The Swiss company said its net profit soared to 191 million euros ($209.5 million) from 118 million euros in one quarter. Analysts had expected the group to post revenue of just 138 million euros for the quarter. Following the news, the price of shares surged. Meanwhile, the company saw revenue fallfor the quarter, but stressed that this was mainly due to the negative impact of currency fluctuations. But it marked a marked improvement over the first two quarters of the year, with the company's French revenues down 17 and 12 percent respectively. The company, which has been undergoing a restructuring and cost-cutting programme, meanwhile confirmed its target of reaching. The results were praised by analysts, with Patrick Hasenboehler of J. Safra Sarasin highlighting the benefits of the company's cost-control initiatives on its margins.