9th Mar 2016 06:30
CHESEREX (Alliance News) - Swiss recruitment group Adecco Group reported Wednesday its net income slipped slightly in the fourth quarter year-on-year and said it has struck a deal to acquire UK-based Penna Consulting PLC.
Adecco said it has reached an agreement to acquire Penna, a UK-based recruiter, for 365 pence per share, valuing Penna at GBP105.0 million.
Penna had revenue of approximately GBP84.4 million for the 12 months ended March 31, 2015. The acquisition will be implemented by a court-sanctioned scheme of arrangement and is expected to complete in the second quarter.
Separately, Adecco said its fourth-quarter net income attributable to shareholders was EUR184 million, compared to EUR185 million last year. Fourth-quarter revenue hit EUR5.67 billion, up 10% year-on-year on a reported basis and up 5% in constant currency and also organically.
Further, company proposed a dividend per share of CHF2.40 Swiss francs for 2015, a 14% increase on the prior year.
Looking ahead, for the first quarter, the company said its gross margin will be negatively impacted year-on-year by the timing of Easter, which is in the first quarter 2016 while last year it fell in the second quarter.
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