Adecco revenue on the rise
Adecco, the world's largest temporary employment agency, saw its revenue increase by eight per cent in the first nine months of 2001, reaching SFr20.9 billion ($12.55 billion).
However, revenue declined by four per cent in the third quarter compared with the same period last year.
The company’s operating income gained seven per cent to SFr964 million. Cash flow was SFr675 million for the first nine months of the year.
The third quarter decline was due to a drop in volume in major markets, especially in North America where revenue was 16 per cent lower. The group’s cash flow for the three months until the end of September was SFr345 million.
“We experienced a clear distinction between the business environment in the first half and the difficult conditions in the third quarter,” said John Bowmer, Adecco’s chief executive officer. Operating income for the July to September period was down 11 per cent.
Adecco, based in Chéserex, canton Vaud, employs over 30,000 people worldwide.
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