Hays sees year-on-year quarter growth for first time since 2008
International recruiter Hays has seen an “encouraging” quarter in which it has recorded year-on-year growth for the first time since 2008, according to results for the quarter ended 30 June.
The group’s results reveal:
Growth in net fees for the quarter ended 30 June 2010 (Q4)
(on the same period last year)
| Actual | LFL | |
| By region | ||
| Asia Pacific | 53% | 28% |
| Continental Europe & Rest of World | 21% | 16% |
| UK & Ireland | (6)% | (6)% |
| Total | 14% | 8% |
| By segment | ||
| Temporary | 2% | (3)% |
| Permanent | 33% | 26% |
* LFL (like-for-like) growth represents organic growth at constant currency.
Alistair Cox, chief executive of Hays, says: “This has been an encouraging quarter which has seen us return to year-on-year growth for the first time in two years. We have capitalised on the strong market recovery across Asia Pacific and improving trends in most of our other international markets, particularly in Germany and Brazil. With nearly 60% of Group net fees now generated outside the UK, we are well positioned to benefit from both the cyclical and structural growth in the international specialist recruitment markets.
“In the UK, as expected, we have seen continuing weakness in certain parts of the public sector, which collectively represent less than 10% of Group net fees. This has been offset by growth in the private sector.”
