CHESEREX (dpa-AFX) - Adecco Group (AHEXY.PK, ADO.L), a provider of Human Resources solutions, reported that its net income attributable to shareholders for the second-quarter was up 7% to 190 million euros compared to 177 million euros in the prior year. Basic EPS increased by 9% to 1.11 euros from 1.02 euros last year.
Operating income was 273 million euros compared to 247 million euros in the same period last year.
Quarterly revenues were 5.696 billion euros were up 2% year-on-year on a reported basis. Organically, revenues increased by 4%, or by 3% adjusted for trading days. Currency fluctuations had a negative impact on revenues of approximately 3% and acquisitions had a small positive impact.
In third-quarter2016, SG&A excluding one-offs is expected to be similar to Q2 2016.
The Adecco Group said that it remains committed to leveraging the EVA approach to balance revenue growth, profitability and cash generation. The Group's financial targets, to be achieved on average across an entire economic cycle, including periods of economic expansion and recession, are: growing revenues organically at least in line with itsmain peers, at Group level and in each major market; improving our EBITA margin to 4.5-5.0% on average through-the-cycle; and delivering an operating cash flow conversion of more than 90% on average through-the-cycle.
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