Adecco is holding its Investor Days 2010 in Miami today
Adecco Group, the worldwide leader in Human Resource services, is holding its Investor Days 2010 in Miami today and is providing an update on current trading conditions. Adecco continues to see good demand in the majority of its markets and sees no signs of a slowdown. Revenues in July and August continued to develop inline with June, increasing by approximately 16% organically and adjusted for business days.
Miami, FL, United States, Sep 23, 2010
In the first two months of the third quarter of 2010, Adecco's revenues continued to grow double-digit, up approximately 16% organically and when excluding the business day impact. Demand remained robust across most markets with no signs of a slowdown and management continues to be confident in healthy demand progression near term.
While the company continues to exploit the much improved conditions, focus on diligent cost management and financial discipline is strongly maintained. At its Investor Days today, the management remains firmly committed to its mid-term EBITA margin target of above 5.5%. The results achieved in the recent quarters underline that the company is well on track.
The presentations held during the event will be available in the Investor Relations section of Adecco's website at the following address:
Delisting from NYSE Euronext in Paris
Adecco today also announces that it successfully completed its delisting from NYSE Euronext in Paris as of September 23, 2010. The rationale for the delisting is primarily based on low average trading volumes and Adecco's continued focus on cost optimisation. Adecco S.A.'s shares will continue to trade on SIX
Information in this release may involve guidance, expectations, beliefs, plans, intentions or strategies regarding the future. These forward-looking statements involve risks and uncertainties. All forward-looking statements included in this release are based on information available to Adecco S.A. as of the date of this release, and we assume no duty to update any such forward-looking statements. The forward-looking statements in this release are not guarantees of future performance and actual results could differ materially from our current expectations. Numerous factors could cause or contribute to such differences. Factors that could affect the Company's forward-looking statements include, among other things: global GDP trends and the demand for temporary work; changes in regulation of temporary work; intense competition in the markets in which the Company operates; integration of acquired companies; changes in the Company's ability to attract and retain qualified internal and external personnel or clients; the potential impact of disruptions related to IT; any adverse developments in existing commercial relationships, disputes or legal and tax proceedings.