• Switzerland edition
Hundreds of great job opportunities for foreign professionals at Switzerland's top employers - in cooperation with Monster, Experteer, Stepstone, and CareerBuilder.
jobs available
Find English-speaking professionals with The Local.
Advertise a vacancy
Higher Adecco profits reflect improved markets

Higher Adecco profits reflect improved markets

Published: 08 May 2014 14:50 CET

For the first three months of the year, the Swiss company said its net profit swelled 64 percent to 110 million euros ($153 million) from the same period a year earlier.
That beat the expectations of analysts polled by the AWP financial news agency, who had anticipated a net profit of 107 million euros ($149 million) for the quarter.
Adecco's revenues meanwhile grew two percent to 4.6 billion euros ($6.4 billion) during the quarter, but the company stressed that excluding the negative impact of currency fluctuations it actually expanded six percent.
The strong performance seemed to confirm that its long-struggling European market has indeed returned to growth.
"Revenue growth continued to pick up in Europe, led once again by our Industrial business," company chief Patrick De Maeseneire said in the earnings statement.
"Demand in manufacturing accelerated further, which is a good early-cycle indicator," he added.
The Vontobel analysis firm hailed the better-than-expected results, pointing out that "momentum in Europe is building faster than anticipated"
Investors also responded positively, pushing the company's share price up 1.89 percent in mid-morning trading as the Swiss stock exchange's main SMI index rose just 0.39 percent.
In France, the group's largest market, it saw sales inch up one percent during the quarter to one billion euros ($1.4 billion), driven by a three-percent jump in its industrial activities, which account for the lion share of its revenues in the country.

This marked the first time since late 2011 that Adecco's French business has shown growth.
The company's office activities in the country, however, saw revenues plunge 16 percent during the quarter.
Revenues meanwhile ballooned 16 percent on the neighbouring Iberian peninsula (Spain and Portugal), and 14 percent in Italy.
In North America, Adecco's second largest market, the company saw its revenues rise two percent to 874 million euros.
On a global scale, the company said it expected demand for temporary staffing to continue to grow this year.
Recent positive reports from Adecco's main competitors also testify to that trend, with US company Manpower seeing its sales rise three percent in the first quarter, while Dutch firm Randstad posted a four-percent hike.

Don't miss...X
Left Right

Your comments about this article:

The comments below have not been moderated in advance and are not produced by The Local unless clearly stated. Readers are responsible for the content of their own comments. Comments that breach our terms and conditions will be removed.

Your Swiss Career
American comedienne Sylvia Day, 45, gave up her communications job to move to Switzerland in 1995. Here, she tells The Local how she’s carved out an unlikely career in comedy — and how she uses improv to fight stress in the Swiss workplace.
When Miami-based author Joseph Brady, 38, wrote his first novel, The Zurich Decision, he set it in Switzerland — even though he’d never set foot in the country. Then his wife was offered a job there, and fiction turned into reality . . .
After spending a decade working in the finance industry in London, Spanish-born Ana Ortega, 32, was transferred to Switzerland. She tells The Local how her newfound passion for vegan food led her to write a cookbook on the side.
After working for a large company, Swedish-born Ann Söderblom, 31, recently took the plunge from employee to entrepreneur. Söderblom, who advises expats on how to start their own business, tells The Local why Switzerland is the perfect place to set up your own company.
When Michael Fontana-Jones moved to Switzerland from London eight years ago, he took on the brave mission of persuading a country renowned for its own cheeses to try his native Cheddar and Stilton. Here, he tells The Local how he fared.
Tomasz Trzebiatowski originally moved to Lucerne from Poland to study music, but his interest in photography soon split his career in two directions. Today, he tells The Local why the city in central Switzerland is such a thriving artistic centre and why he decided to found a photography group.
Swiss Employment News
The world's largest temporary work agency, Zurich-based Adecco, on Wednesday warned that economic uncertainty in Europe meant companies were hiring fewer employees.
Switzerland’s unemployment rate rose for the first time in nine months in August, according to government figures issued on Monday.
The number of unemployed people registered in Switzerland inched up in the month of July for the first time in six months, although the national jobless rate remained at 2.9 percent, unchanged from the previous month, figures released on Friday show.
Unemployment in Switzerland fell below three percent in June for the first time in a year, according to government figures released on Monday.
The Swiss unemployment rate dropped for the third month in a row in May to three percent from 3.2 percent a month earlier, government figures released on Tuesday show.
The jobless rate in Switzerland fell for a second consecutive month in April to 3.2 percent from 3.3 percent in March, according to government figures released on Wednesday.

The Local in Spain is seeking a reporter to join our growing team of internationally-minded, ambitious, and clued-up journalists. You will be based in our Madrid office covering news and events in Spain for thelocal.es and building this young site's audience.

Medtronic (Schweiz) AG
Added 09/30/14

Page Personnel - Banking & Financial Services
Added 09/30/14

Randstad (Schweiz) AG, Professionals
Added 09/30/14

Experis Suisse
Canton de Vaud
Added 09/30/14

Stryker Trauma AG
Added 09/30/14

Added 09/30/14

Coutts & Co AG
Added 09/30/14

Added 09/30/14

Helvetica Partners HR Solutions
Added 09/30/14

Page Personnel - Office & Management Support
Added 09/30/14