‘Excellent’ growth for Hays
“Excellent growth” in Continental Europe, South America and Asia has helped Hays record strong net fee growth for the quarter ended 31 March 2011.
“Excellent growth” in Continental Europe, South America and Asia has helped Hays record strong net fee growth for the quarter ended 31 March 2011.
The group’s results reveal that while growth in the UK and Ireland was stagnant, other international regions picked up the slack.
| Growth in net fees for the quarter ended 31 March 2011 | Growth actual | LFL* |
| Asia Pacific | 37% | 23% |
| Continental Europe & Rest of World | 32% | 35% |
| UK & Ireland | 2% | 2% |
| Total | 18% | 16% |
| Temporary | 10% | 8% |
| Permanent | 30% | 27% |
| Total | 18% | 16% |
- Group net fee growth of 16%* on prior year driven by continued strong performance of international business
- Net fee growth of 21%* in Australia & New Zealand
- Growth in Germany with net fees up 39%*
Strong net fee growth of 18% in private sector markets, offset by continued tough conditions in the public sector down 37%
Hays chief executive Alistair Cox says: “We have had another quarter of strong and broad-based growth led by our International business, which increased its net fees by 29%* compared to the previous year. We recorded excellent growth in Continental Europe, South America and Asia, with
another quarter of strong growth in Australia. Overall, 21 countries grew net fees by more than 20%*. In the UK, net fees remained broadly stable overall with strong growth in the private sector offset by tough public sector markets.”
* LFL (like-for-like) growth represents organic growth at constant currency.
