Adecco reports under expectations

Adecco reports under expectations

Adecco’s (VTX:ADEN) Q2 results were announced this morning, coming in under analyst’s expectations.

The company reported a net profit of 177 million euros, compared to the expected 182 million.

However, Adecco believe they will meet their full year goal of boosting its earnings before interest, taxes and amortisation (EBITA) margin above 5.5 percent.

In a statement, Cheif Executive Patrick De Maeseneire said:

“We are committed to achieving our EBITA margin target of above 5.5 percent in 2015, which is dependent on an acceleration of revenue growth in the second half of the year. Given the trends in our business and the current economic outlook, and helped by an easier comparison base, we continue to expect such pick-up.”.

Adecco is one of the biggest providers of temporary and permanent staffing. The company is currently trading down 2.37% on the news.