UK&I revenues remain flat for Adecco in H1 2016
Adecco has released its half year report 2016.
Revenues for the first six months of 2016 amounted to EUR 11,028. Compared to the same period last year, revenues increased by 3% or 5% in constant currency. The Group says this was mainly due to a 4% increase in the temporary staffing volume as temporary hours sold increased to 603m.
Gross profit amounted to EUR 2082 for H1 2016, an increase of 3% or 4% in constant currency. The gross margin was 18.9%, flay year-on-year.
Selling, general and administrative expenses (SG&A) increased by 3% or 4% in constant currency to EUR 1572 in H1 2016, compared to the same period last year.
EBITA was EUR 510 and increased by 3% or by 4% in constant currency in the first six months of 2016.
Operating income amounted to EUR 492 in the first six months of 2016 compared to EUR 475 in the same period of 2015.
Net income attributable to Adecco shareholders amounted to EUR 334 in the first six months of 2016, compared to EUR 337 in the same period of 2015.
In the UK and Ireland, in the first six months of 2016, revenues remained flat or increased by 3% organically to EUR 1116. Approximatively two thirds of revenues came from professional staffing, which decreased by 1% in constant currency. Revenues remained flat in IT, decreased 4% in finance and legal, and by 25% in engineering and technical, all in constant currency.
To read the report in full, click here.
Picture: Alain Dehaze, CEO of Adecco Group