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Adecco shines with record figures

The world's largest staffing company, Adecco, posted a 20 per cent increase in net profit in 2007 to €735 million (SFr1.16 billion).

The company, which has its headquarters near Zurich, said group revenues last year were €21.1 billion, or three per cent higher than in 2006.

“We continue to see solid growth rates in the European and Asian staffing markets, while demand patterns in the United States remain weak,” commented Adecco CEO Dieter Scheiff in a statement.

Adecco’s management reckons the market in the US and Canada will stay weak but expects more growth in Europe and ongoing “good demand” in Japan.

The statement added that management was confident that its business plan would allow Adecco to boost its 2009 operating margin to more than five per cent.

The group said it remained committed to its objective of revenue growth of at least seven to nine per cent for the coming years, assuming the macroeconomic environment was “friendly”.

Adecco’s board will propose a dividend of SFr1.50 per share for 2007 (SFr1.20 in 2006) at the annual shareholders’ meeting on May 6.

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