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Adecco SA, the world’s largest staffing company, reported today its first-quarter North American revenue rose 31 percent. Revenue in the quarter was €921.0 million (US$1.30 billion), up from €703.0 million.
However, on an organic basis, North American first-quarter revenue rose 17 percent. Organic growth excludes the impact of currencies as well as acquisitions, such as Adecco’s acquisition of the MPS Group Inc. in early 2010.
Industrial staffing first-quarter revenue in North America rose by 22 percent, on a constant currency basis (excluding the impact of currency). Office staffing revenue rose 23 percent in constant currency in North America.
Also, first-quarter North American revenue rose (on an organic basis) 2 percent in information technology, 23 percent in engineering and technical and by 8 percent in finance and legal. North American direct hire revenue rose 14 percent on an organic basis.
Total first-quarter revenue for Adecco rose 24.1 percent to €4.92 billion (US$6.93 billion). Gross margin narrowed to 17.4 percent from 18.0 percent in the year-ago quarter.
First-quarter net income rose 77.2 percent to €101.0 million (US$142.4 million).
For more information or to read the press release from Adecco, click here.
For the first quarter ended March 31, 2011, compared with the same period in 2010.
Revenue: €4.92 billion (US$6.93 billion), +24.1 percent
Net income: €101.0 million (US142.4 million), +77.2 percent