ZURICH -- Adecco SA (ADEN.VX), the world's largest staffing
company by sales, Wednesday said it was seeing a slight improvement
employment trend as it reported lower-than-expected profit for the
three months to March 31.
MAIN POINTS:
- 1Q net profit of EUR 67million versus EUR112 million in
2012
- 1Q revenue of EUR 4.56 billion versus EUR5.04 billion in
2012
-Outlook: Adecco exited the first quarter of 2013 with an
organic revenue decline rate of 4% in March, adjusted for trading
days, compared with -5% for the three months to March 31.
- Company says Revenue developments in April were similar. North
America continued to hold up well. In France the gap to the market
narrowed since the beginning of the year, but conditions remained
challenging. Elsewhere in Europe revenue growth stabilised or
improved slightly. In the Emerging Markets revenue growth continued
to be solid.
- Five analysts polled by Dow Jones on average forecast a net
profit of EUR73 million.
- Five analysts polled by Dow Jones on average forecast revenue
of EUR5.04 billion.
- Rival staffing company Randstad Holding NV (RAND.AE) reported
a 8% dip in 1Q revenue, but a 3% rise in net profit when it
reported in April. U.S. peer Manpower Group (MAN) also reported a
6.4% dip in revenue and a 24% fall in net profit for the same
period.
- Adecco shares closed Monday at CHF 50.70. The stock has gained
5.5% in value since the start of the year.
Write to john.revill@dowjones.com
Order free Annual Report for LVMH Moët Hennessy Louis Vuitton
SA
Visit http://djnweurope.ar.wilink.com/?ticker=FR0000121014 or
call +44 (0)208 391 6028
Order free Annual Report for Burberry Group Plc
Visit http://djnweurope.ar.wilink.com/?ticker=GB0031743007 or
call +44 (0)208 391 6028
Order free Annual Report for Randstad Holding NV
Visit http://djnweurope.ar.wilink.com/?ticker=NL0000379121 or
call +44 (0)208 391 6028
Order free Annual Report for Burberry Group Plc
Visit http://djnweurope.ar.wilink.com/?ticker=US12082W2044 or
call +44 (0)208 391 6028
Order free Annual Report for LVMH Moët Hennessy Louis Vuitton
SA
Visit http://djnweurope.ar.wilink.com/?ticker=US5024413065 or
call +44 (0)208 391 6028
Order free Annual Report for ManpowerGroup
Visit http://djnweurope.ar.wilink.com/?ticker=US56418H1005 or
call +44 (0)208 391 6028
Subscribe to WSJ: http://online.wsj.com?mod=djnwires