Adecco Posts Downbeat Q1 Profit

Adecco SA AHEXY reported a weaker-than-expected profit for the first quarter. Adecco's quarterly net profit fell to EUR 67million, from EUR112 million, in the year-ago period. Its revenue declined to EUR 4.56 billion from EUR5.04 billion. However, analysts were expecting a net profit of EUR73 million on revenue of EUR5.04 billion. Adecco shares closed at $26.93 yesterday.