‘Robust’ international trading for Hays
Global recruiter Hays has encountered “robust” trading for the quarter ended 30 September, according to an interim management statement.
The statement reveals:
Global recruiter Hays has encountered “robust” trading for the quarter ended 30 September, according to an interim management statement.
The statement reveals:
Growth in net fees for the quarter ended 30 September 2011 (Q1) on the same period last year
actual LFL* | |
By region | |
Asia Pacific | 34% 21% |
Continental Europe & Rest of World | 41% 34% |
United Kingdom & Ireland | (4)% (4)% |
Total | 21% 15% |
By segment | |
Temporary | 21% 16% |
Permanent | 21% 15% |
Total | 21% 15% |
* LFL (like-for-like) growth represents organic growth at constant currency.
Average exchange rates during the period were £1: $1.54 and £1:€1.14 ($1.72 and €1.20 in the prior year period)
Chief executive Alistair Cox says: “This quarter we have delivered good net fee growth driven by our international businesses which grew by 27%*. While we are mindful of the increasing macro-economic uncertainty around the world, trading remains robust in the vast majority of our International markets and 19 countries across the group grew net fees by 20%* or more in the quarter. In the UK, we have seen a further slowdown in private sector growth, although public sector markets remain broadly stable on a sequential basis.
“The group now generates 68% of its net fees outside of the UK and has
operations in 31 countries worldwide. This increasingly diverse global
footprint supported by our investments in consultant headcount, technology,
training and marketing leaves us ideally positioned to further capitalise on
the long term structural growth opportunities available to Hays around the
world.”
