FINANCIALS: Hays profits rise 11%
26 February 2014
Global recruiter Hays reported strong profit growth for the six months to 31 December, experiencing an 11% rise to £66.7m.
Wed, 26 Feb 2014Global recruiter Hays reported strong profit growth for the six months to 31 December, experiencing an 11% rise to £66.7m.
However, turnover for the six-month period was flat as net fees increased globally by 1% to £363.4m.
In the UK & Ireland net fees increased by 9% to £119.5m and generated an operating profit of £9.9m.
The improvement in activity levels was sustained throughout the half, with growth notably strong in the East of England, London, Midlands, the North-West and South.
Alistair Cox, chief executive officer for Hays, says: "We have delivered a strong first half profit performance. In the UK & Ireland, the return to meaningful fee growth and our focus on driving productivity improvements are delivering clear benefits as we converted 93% of incremental net fees into operating profit.”
However, turnover for the six-month period was flat as net fees increased globally by 1% to £363.4m.
In the UK & Ireland net fees increased by 9% to £119.5m and generated an operating profit of £9.9m.
The improvement in activity levels was sustained throughout the half, with growth notably strong in the East of England, London, Midlands, the North-West and South.
Alistair Cox, chief executive officer for Hays, says: "We have delivered a strong first half profit performance. In the UK & Ireland, the return to meaningful fee growth and our focus on driving productivity improvements are delivering clear benefits as we converted 93% of incremental net fees into operating profit.”
