ZURICH: Swiss staffing giant Adecco Group SA (ADEN.EB) said Wednesday that second-quarter net profit rose 7% on a 4% rise in organic revenue helped by growth in parts of Europe, including Italy. Zurich based Adecco said net profit rose to 190 million euros ($211.9 million) in the three months to end-June from the same period a year earlier. Revenue rose to EUR5.67 billion.
Economists typically view staffing companies as a bellwether for the global economy and labor markets. The figures signal improved economic conditions in Europe, particularly countries such as Italy and Spain that have struggled to recover from Europe’s debt crisis. Revenues in Italy rose 9% to EUR374 million, while they increased 11% in Iberia. They rose 3% in France and by an equal amount combined in Germany, Austria and Switzerland.
Revenues in North America, Adecco’s second-biggest market after France, slid 1% due to weakness in general staffing, IT and engineering.
