Like its peers, Randstaad and Manpower, Adecco reported Q2 figures ahead of expectations, albeit slightly lower. Nevertheless, the company seems to have won market share in France, Spain and Italy. Costs remained under control, providing some support to the group’s profitability and margins. We are maintaining our current estimates and may revise them upwards if the Q3 confirms the positive trend seen in June and July.
06 Aug 2020
Q2 figures beat consensus and show a trough
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Q2 figures beat consensus and show a trough
Adecco Group AG (0QNM:LON) | 3,100 0 0.0% | Mkt Cap: 5,221m
- Published:
06 Aug 2020 -
Author:
Luis Pereira -
Pages:
2
Like its peers, Randstaad and Manpower, Adecco reported Q2 figures ahead of expectations, albeit slightly lower. Nevertheless, the company seems to have won market share in France, Spain and Italy. Costs remained under control, providing some support to the group’s profitability and margins. We are maintaining our current estimates and may revise them upwards if the Q3 confirms the positive trend seen in June and July.