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Adecco Q2 profit just misses, keeps 2015 outlook

Adecco boosted second-quarter net profit 22 percent to 177 million euros ($194.4 million), the world's biggest staffing group said on Tuesday, slightly lagging market expectations.

Six analysts polled by Reuters had on average expected net profit of 182 million.

"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," Chief Executive Patrick De Maeseneire said.

Its margin on earnings before interest, taxes and amortization (EBITA) excluding one-off items rose year on year by 30 basis points n the quarter to 4.9 percent.

Christophe Bosset | Bloomberg | Getty Images

Revenue increased a slightly better-than-expected 12 percent to 5.58 billion on organic growth of 4 percent.

Adecco said revenues in France and Germany returned to growth and accelerated in the Benelux countries and Italy, while Iberia and eastern Europe generated double-digit growth.

"The improvement in Europe was partly offset by a moderation in growth in North America," it said in its earnings release.

Staffing company Randstad, the world's second-biggest staffing group, last month reported better-than-expected second-quarter revenues and earnings, saying European employers were taking on workers and growth was "accelerating" despite worries about Greece and Ukraine.

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