Adecco Posts Loss In H1
(RTTNews) - Adecco Group (AHEXY.PK, ADO.L), a Swiss provider of human resources solutions, Thursday reported a net loss attributable to Adecco shareholders of 327 million euros for the first half, compared to a net profit of 292 million euros in the same period of last year. On a per share basis, loss was 2.01 euros versus profit of 1.80 euros last year.
EBITDA for the period fell 60 percent to 186 million euros, and EBITDA before one-offs was down by 53 percent to 229 million euros. EBITDA margin was 2.0 percent and EBITDA margin before one-offs was 2.5 percent.
Gross profit decreased by 19 percent during the period, and Gross margin stood at 19.1 percent.
The Group's revenues for the first half slid by 19 percent to 9.32 billion euros. Revenues in temporary staffing were down 21 percent and revenues in Workforce solutions slid by 20 percent.
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