Adecco: margins maintained in Q3

(CercleFinance.com) - On Tuesday Adecco reported Q3 sales that are down, although its margins resisted well, which seemed to give investors some reason to hope.


Over the three months to end-September, the world leader in temporary employment posted revenues that are down 18%, while the decline in organic terms was limited to 15% year-on-year.

Its gross margin was also satisfactory, increasing by 20 basis points over the quarter to 19.6%, thanks to cost-reduction measures undertaken by the Swiss group and a lower-than-expected impact from Covid-19.

In a statement, Adecco explains that it has benefited from a "gradual" recovery in activity with an end to certain lockdowns and Covid-related restrictions.

The share is currently up about 4.5% on the Zurich Stock Exchange, representing one of the biggest winners in the Stoxx 600 index of European stocks, which is up 1.6% at the same time.


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