The Adecco Group, the worldwide leader in Human Resource services, today announced results for the third quarter of 2007. For the third quarter net income increased by 40% to EUR 230 million compared to EUR 164 million a year earlier, positively impacted by EUR 12 million French social charge benefits and EUR 28 million lower income taxes. Revenues were up 2% organically to EUR 5.4 billion compared with EUR 5.3 billion in 2006. Underlying operating income margin improved 50 bps to 5.1%.
Dieter Scheiff, Chief Executive Officer, Adecco Group said: ìIím pleased with the performance of Adecco in the third quarter. We are focused on shareholder value generation through profitable revenue growth, which has resulted in another strong underlying operating margin expansion of 50 bps to 5.1%. We maintained good pricing discipline particularly in our main markets, France and the US, while carefully managing cost efficiency. We are well on track to reach over 5% EBITA margin by 2009.î
ìWe continue to see solid growth rates in the European and Asian staffing markets, while demand in the US remains weak. Given our value based management approach we expect to continue to see growth rates below the market in France.î
Adecco boosts operating profitability in Q3 2007
Reported operating income of EUR 296 million
