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Adecco says permanent recruitment returns to growth in third quarter

By Reuters News

Nov 11 - Swiss staffing company Adecco Group ADEN.S said permanent recruitment returned to growth in the third quarter while revenue met expectations, adding to signs of improving hiring conditions in parts of its markets.

The company reported revenue of €5.99 billion ($6.64 billion), in line with a company-compiled consensus.

  • Operating income came in at 180 million euros, ahead of analyst forecasts of 166 million euros

  • Organic revenue growth slowed to 3.6% from 5.6% in the second quarter

  • Adecco said revenue in France, which accounts for 18% of group sales, fell 4% due to adverse market conditions

  • CEO Denis Machuel said Adecco's simplification programme would support margins and generate an additional 75 million euros of annual run-rate savings by the third quarter of 2027

  • Dutch rival Randstad RAND.AS last month also pointed to improving hiring conditions


    ($1 = 0.9027 euros)

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