Shares of the Adecco Group, the Swiss staffing company, rose 14.3% on Thursday after it reported higher third-quarter profit and announced a new round of cost savings. The stock traded at 26.06 Swiss francs at about 2 p.m. GMT, up 3.26 francs from Wednesday’s close of 22.80 francs, after reaching 26.40 francs earlier in the day.
Adecco, which reports in euros, said revenue rose 4% to €5.998 billion from €5.776 billion a year earlier, with organic growth of 3.7% after adjusting for trading days. Its main profit measure, EBITA excluding one-off costs, rose to €213 million from €195 million. Net income attributable to shareholders climbed 27% to €113 million from €89 million, and basic earnings per share were €0.65, up from €0.53.
The company said permanent placement returned to growth. From Jan. 1, 2027, it will reorganize into three business lines, which it expects to bring an extra €75 million in annual run-rate savings by the third quarter of 2027, on top of €200 million saved over the last three years. For the fourth quarter, Adecco said it continues to see positive momentum in volumes.
The rally came on a mixed day for European stocks. The STOXX 600 index set an intraday record of 666.58 in the morning but was little changed at about 663 by 2 p.m. GMT, near Wednesday’s record close of 663.05.
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