Adecco says revenues stabilising after 4% downturn in third quarter
Adds details, CEO quote
ZURICH, Nov 5 (Reuters) -Adecco ADEN.S reported a 4% drop in revenue during its third quarter, the staffing company reported on Tuesday, but said sales volumes had "stabilised" at the start of its fourth quarter.
The provider of temporary and permanent staff said revenue fell to 5.70 billion euros ($6.20 billion) during the three months to the end of September, citing "challenging markets" in France and the United States.
The figure missed forecasts for 5.81 billion euros in a company-gathered consensus of analysts.
"The macroeconomic environment remains challenging, but I am encouraged to see that volume trends have stabilised," said Chief Executive Denis Machuel in a statement.
Operating profit fell to 162 million euros during the three months to the end of September, down 12% but beating forecasts for 153 million euros.
Net income fell 4% to 99 to million euros, better than the 86 million euros forecast.
($1 = 0.9193 euros)
Reporting by John Revill, editing by Miranda Murray
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