Staffing company Adecco posts Q2 net profit of $127 million as economies recover

Adecco posts Q2 net profit of $127 million

GENEVA — Staffing company Adecco SA posted a second-quarter net profit of €97 million ($127 million) Wednesday as demand in major economies recovered from the global downturn.

The Swiss-based company made a net loss of €147 million in the same period last year.

Turnover was €4.65 billion during the quarter, up from €3.59 billion a year ago.

“Demand was particularly strong in the industrial segment, but also our professional staffing business returned to growth in the second quarter,” said Adecco CEO Patrick De Maeseneire.

“To date, we see no evidence of a slowdown in our business and demand is robust across most markets,” he said, adding that the company was in a good position to take advantage of resurgent growth.

Analysts welcomed the results, in particular the company’s strong cost controls, but Adecco shares suffered Wednesday as world markets plunged on renewed recession fears.

Shares closed down 4.1 percent at 53.30 Swiss francs ($50.40) on the Zurich exchange.