Adecco announces fall in initial Q3 revenues

The world’s biggest temporary employment agency, Adecco, announced on Wednesday a 4.5-percent fall in sales in the first two months of the third quarter.

The results, announced as the human resources specialist hosts its annual Investor Days event in Paris, follows a 4.0-percent decline in second quarter revenues.

“Revenue development in July was slightly weaker, mainly driven by France and Japan,” Adecco said in a statement, with continuing “diverse geographical trends” characterised by largely unchanged revenues in Europe in July and August and a slight acceleration in North American revenues since June.

In the second quarter Adecco posted a 20-percent fall in net profits to 113 million euros ($148 million) with sales up 1.0 percent to 5.2 billion euros ($6.8 billion).