interesting numbers actually, adcorp's got margin pressure but the temp staffing model means they can flex…by @nico_the_analyst on $ADR

interesting numbers actually, adcorp's got margin pressure but the temp staffing model means they can flex costs faster than a lot of industrials when things slow. worth noting they're still cash generative even with load-shedding eating into client capex. imo this trades on whether you think recruitment picks up in 2025 or we're in a longer slog, fwiw.