Adecco sees increasing demand for flexible labour in Europe

ZURICH Wed Nov 6, 2013 6:15am GMT

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ZURICH Nov 6 (Reuters) - Adecco, the world's No. 1 staffing agency, beat expectations for third-quarter net profit and said it expects increasing demand for flexible labour in Europe as the region emerges from recession.

"In Q3 2013 we returned to growth in many countries in Europe and the pick-up in Italy, Germany and Spain is especially encouraging," Chief Executive Patrick De Maeseneire said in a statement on Wednesday.

Third-quarter net profit rose 61 percent to 191 million euros, smashing the average analyst forecast of 137 million in a Reuters poll.

Revenues at the Switzerland-based firm fell 5 percent to 5.033 billion euros, hurt by volatile currency swings and slightly below the average analyst forecast.

But excluding currency effects, revenue growth was flat and Adecco said it returned to growth in October. (Reporting by Caroline Copley)