Adecco’s profit rose in Q1, good news by French elections
Adecco’s first-quarter profit rose more than a fifth, better than expected, as the world’s largest temporary staffing company continued to get a boost from major markets in southern Europe while projecting modest growth in the U.S.
Net profit attributable to shareholders rose to €176 million ($192.2 million) in the three months to March, beating the average estimate of 165 million in a Reuters poll of analysts. Sales rose to €5.73 billion, better than the poll average of 5.68 billion.
Dutch staffing company Randstad last month reported a 21 increase in net profit during the quarter, boosted by strong growth in France and Germany. U.S. rival Manpower’s earnings rose 3.8 percent in the first three months as it saw broad improvement across Europe.