Q3 figures were in line with expectations and with what Adecco announced for the quarter. The deterioration sequentially also remains in line with the recent Randstad’s release (-2.5%). Revenues continued to decline, while the GrowTogether plan delivered productivity savings, on track with commitments for this year, keeping margins at a correct level. We believe the top line should remain under pressure for the coming quarters, while the strategic plan will be beneficial for margins.
....
05 Nov 2019
Negative growth, margins under control


Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
Negative growth, margins under control
Adecco Group AG (0QNM:LON) | 0 0 0.0% | Mkt Cap: 9,559m
- Published:
05 Nov 2019 -
Author:
Luis Pereira -
Pages:
3 -
Q3 figures were in line with expectations and with what Adecco announced for the quarter. The deterioration sequentially also remains in line with the recent Randstad’s release (-2.5%). Revenues continued to decline, while the GrowTogether plan delivered productivity savings, on track with commitments for this year, keeping margins at a correct level. We believe the top line should remain under pressure for the coming quarters, while the strategic plan will be beneficial for margins.
....