Human resources specialist Adcorp has reported a 29% decline in operating profit to R42.3m at the halfway stage of the financial year, as it undertook restructuring to recalibrate its cost base.

The group’s revenue was up 4.8% in the six months ended August to R6.8bn, despite challenging market conditions in both SA and Australia. Gross profit increased 3.3% to R648.1m, but profit after tax decreased 16.9% to R29.4m...

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