Adecco reports higher profits for 2014

Adecco reports higher profits for 2014
Photo: AFP
Zurich-based Adecco, the world’s largest temporary staffing company, on Wednesday reported a 14 percent rise in profits in 2014 from the previous year.

The company said its net profit increased to €638 million (682 million francs) while turnover jumped three percent to €20 billion.

In constant currencies, revenues rose four percent, Adecco said.

The results mark a rebound from several months ago when concerns about the economies of the European Union weighed on the outlook for the year.

The company said this year has started well with revenues up four percent in January and February.

It expects that demand for staffing services will remain positive for 2015.

Adecco also announced an expansion in Canada, where it has acquired Knightsbridge Human Capital Solutions for C$80 million (62 million francs).

Knightsbridge is specialized in executive head hunting and the management of staff.

Its sales last year totalled C$56 million, Adecco said. 

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