CHESEREX (dpa-AFX) - Adecco (ADO.L, AHEXY.PK) posted first quarter net income attributable to Adecco shareholders of 112 million euros versus 100 million euros last year. Basic earnings per share were 0.59 euros, up from 0.52 euros in the same quarter last year.
Group revenues reached 5.04 billion euros, up 2%, or 1% in constant currency, from the previous year. Organically, revenues were down 1%.
Patrick De Maeseneire, CEO of the Adecco Group said, 'We are off to a good start in 2012. Q1 2012 revenues are nearly at the same level as in Q1 2011, a solid result when considering the economic headwinds we face in Europe. Our revenue growth in North America continued to hold up well. Profitability continues to be a clear priority for us in France...
..We anticipate a similarly diverging picture geographically for the second quarter with North America holding up, but Europe remaining challenging. Our aim is clear: continued price discipline and tight cost control, while maintaining our focus on profitable organic growth opportunities. This keeps us well on track to reach our EBITA margin target of over 5.5% midterm.'
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