‘Good and broad-based’ growth for Hays
International recruiter Hays has seen “good and broad-based” net fee growth buoyed by strong performance in its international operations, according to a trading update for the quarter ended 30 June
International recruiter Hays has seen “good and broad-based” net fee growth buoyed by strong performance in its international operations, according to a trading update for the quarter ended 30 June.
The update reveals:
Growth in net fees for the quarter ended 30 June 2011 (Q4)
(versus the same period last year)
By region | actual growth | LFL* growth |
Asia Pacific | 30% | 18% |
Continental Europe & Rest of World | 26% | 28% |
UK & Ireland | (6)% | (6)% |
Total | 14% | 11% |
By segment | ||
Temporary | 13% | 11% |
Permanent | 16% | 12% |
Total | 14% | 11% |
* LFL (like-for-like) growth represents organic growth at constant currency.
While Hays saw net fees fall by 6% in the UK, with 7% net fee growth in the private sector offset by public sector net fees - down 34%, strong net fee growth of 16% was recorded in Australia & New Zealand, along with growth across the rest of Asia, which grew net fees by 30%.
Chief executive Alistair Cox says: “This quarter we have continued to deliver good and broad-based net fee growth, driven by our international operations, which grew net fees by 23%. Around the world, 18 countries increased net fees by more than 20%*in the quarter.
“Our business continues to benefit significantly from the excellent opportunities available to us across the international markets. We have transformed our group to reflect this and our international business now generates over two-thirds of the group’s net fees.
“We have achieved this by continuing to invest, for example increasing our international consultant headcount by 27% over the last year alone. Our increasingly global business supported by our investments in technology, training and marketing positions us ideally to further capitalise on the long term structural growth opportunities around the world.”
