Adcorp to offload Dare Australia after revenue decline
Dare Australia revenue declines due to drought and flooding conditions in the first half of 2020.
Workplace solutions company Adcorp Holdings has announced its plans to exit the Australian market after revenues plummeted during the year to end-February.
The announcement stated that Adcorp has entered into advanced negotiations to offload its energy recruitment company Dare Australia.
Adcorp’s new CEO Phil Roux said that the group faced a cocktail of challenges durinng the year under review. “Looking back over the year, there were various external factors that created headwinds, including high unemployment, slow and delayed market adjustment to labour legislative changes, corporate budgetary constraints, vagaries of nature in Australia and contracting economies within the markets we operate.”
In Australia, revenue declined largely due to drought conditions and flooding in the first half of the year.