Adecco : A good start to the year which should reassure on margin protection
>Organic contraction in Q1 2019 in line with expectations… - Organic growth reached -2% in Q1 2019 adjusted for the number of working days (vs -2.2% for the consensus and -1.8% for ODDO BHF), i.e. reflecting a slight sequential slowdown vs -0.5% in Q4 2018 and whilst the comparative base is very challenging (+6% in Q1 2018). As is the case at Randstad and Manpower, the contraction has stabilised in Europe (-3% in Q1 in line with Q4), and notably in those markets strug...Adecco Group provides human resource services, including temporary staffing, permanent placement, outsourcing, consulting and outplacement. Co. has more than 5,500 branches in over 60 countries and territories. Co.'s Office and Industrial businesses offer a range of general staffing services, including temporary staffing, permanent placement, assessment, training and integrated human resources applications. In addition, Co. operates professional business lines, which include Adecco Finance & Legal, Adecco Engineering & Technical, Adecco Information Technology, Adecco Medical & Science, Adecco Sales, Marketing & Events and Adecco Human Capital Solutions.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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