Adecco is down 1% in Zurich following the publication of adjusted EPS for the first three months of 2024, down 18% to 0.59 euros, with EBITA margin excluding non-recurring items down 30 basis points to 2.8%.

The Swiss human resources services group saw its revenues fall by 3% to 5.72 billion euros on a reported basis, but remain stable on an organic basis, an outperformance that enabled it to gain market share.

"We have achieved revenue stability and maintained firm price discipline in difficult market conditions, while continuing to improve costs across the business", stresses CEO Denis Machuel.

For the second quarter, Adecco expects to "continue to gain market share in a difficult macroeconomic environment, while managing its resources with agility, focusing on productivity and G&A cost savings".

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