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The world’s largest staffing firm Adecco said that weaker trading conditions had accelerated in the first two months of the third quarter, driven by its largest single market France, as well as Japan.
Ahead of the company’s investor day in Paris, Adecco reported on Wednesday that revenue in July and August declined by -4.5% on an organic basis, up from a -4% fall seen in the second quarter of the year.
The company said that the mixed geographical performance continued into the third quarter.
“Revenue developments in Europe remained largely unchanged in July and August, while revenue growth in North America continued its good trend and was slightly accelerating since June,” said the staffing firm.
Adecco also confirmed its target to reach an EBITA margin of over 5.5% midterm.
The news comes after the staffing specialist last month reported a +1% increase in second quarter revenue, following weaker performance in Europe where the company generates around 60% of its sales.
In early trading, the company’s share price improved slightly by 0.27% to CHF 48.05.