Revenues from UK IT recruitment at Zurich-headquartered global staffing giant Adecco fell by 7% (constant currency – ccy) in the final quarter of last year, a steeper decline than the rest of Adecco’s UK businesses (-1%).
UK revenues for the whole of 2012 rose by 6% (ccy) to €1.94bn (c. £1.6bn) vs a 3% decline at group level, to €20.5bn. UK operating profit (EBITA) fell by 9% (ccy) to €32m, though better than the 14% decline at group level. Worldwide, IT recruitment revenues grew by 2% (ccy) in 2012 to €2.38bn.
Adecco seems to be doing better across its all its UK recruitment businesses compared to the likes of Hays (see here) and PageGroup (see here), though IT staffing seems to be the weak link in the chain.