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Further Signs Of Adecco Acquisition?

Further Signs Of Adecco Acquisition?

There are not yet any signs of a sustainable stabilisation in global staffing markets, the chairman of the world's largest staffing company, Adecco, Rolf Doerig has told Swiss newspaper Handelszeitung. However, the group still expects to post an operating profit in the second quarter and is on the look out for acquisitions.

"Adecco posted a profit in a most difficult first quarter despite restructuring measures. From today's point of view, management is expecting an operating profit in the second quarter," Doerig said.

Adecco has already shut branches and cut jobs to protect its margins and is confident of being able to reach this goal in 2009, Doerig said.

Adecco has said it could spend up to 1 billion euros on acquisitions and Doerig said the group was open for opportunities that make strategic and economic sense.

"We are always looking at opportunities, but will only report on this once the deal is signed," Doerig said.

Last year, Adecco failed in a bid to buy Michael Page which would have boosted its position in the higher-margin white-collar arena.

Shares in Adecco have risen nearly 30 percent so far this year, outperforming an 11.25 percent in the DJ Stoxx industrial goods and services index .SXNP.


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