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Adecco Says Revenue Decline Has Accelerated on France, Japan

Sept. 19 (Bloomberg) -- Adecco SA, the world’s largest provider of temporary workers, said its sales accelerated their decline in the first two months of the third quarter, mostly because of the French and Japanese markets.

Revenue fell 4.5 percent on an organic basis and adjusted for business days, the Glattbrugg, Switzerland-based company said in a statement today. The decline was 4 percent in the second quarter.

“Revenue developments in Europe remained largely unchanged in July and August, while revenue growth in North America continued its good trend and was slightly accelerating since June,” the company said.

Adecco last month reported a 20 percent decline in second-quarter profit and said there’s no sign of an end to the European downturn. The company today reiterated its goal of a margin for earnings before interest, tax and amortization exceeding 5.5 percent in the mid-term.

Adecco is holding a presentation in Paris for investors today.

To contact the reporter on this story: Thomas Mulier in Geneva at tmulier@bloomberg.net

To contact the editor responsible for this story: David Risser at drisser@bloomberg.net

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