Financials: Hays UK & Ireland records fastest quarterly NFI growth for six years
10 April 2014
Hays UK & Ireland recorded its fastest increase in quarterly net fee income (NFI) for six years as the international recruiter reported a 8% rise in NFI in the quarter ended 31 March 2014.
Thu, 10 Apr 2014Hays UK & Ireland recorded its fastest increase in quarterly net fee income (NFI) for six years as the international recruiter reported a 8% rise in NFI in the quarter ended 31 March 2014.
On a like-for-like basis the UK & Ireland recorded a 14% increase in NFI compared with the same quarter in 2013, driven by permanent growth of 25%, according to the company’s interim management statement.
In a statement, Hays says: “We saw particularly strong performances from the East of England, the North, the North-West and the Midlands, all of which grew by more than 20%. Our London business, excluding City-related, also saw strong growth. Ireland again performed well and delivered excellent net fee growth of 45%.
“UK & Ireland consultant headcount was up 2% in the quarter and up 8% year-on-year.”
Alistair Cox, Hays chief executive officer, says: “This has been another good quarter of growth for the group as we continued to capitalise on improving conditions in many of our key markets, leading to an increase in our expectations for full-year profits.
“Elsewhere around the world we saw continued recovery in many European, Asian and American markets, and seven of our businesses delivered record monthly net fees, including key businesses such as Germany, Canada and Japan.”
On a like-for-like basis the UK & Ireland recorded a 14% increase in NFI compared with the same quarter in 2013, driven by permanent growth of 25%, according to the company’s interim management statement.
In a statement, Hays says: “We saw particularly strong performances from the East of England, the North, the North-West and the Midlands, all of which grew by more than 20%. Our London business, excluding City-related, also saw strong growth. Ireland again performed well and delivered excellent net fee growth of 45%.
“UK & Ireland consultant headcount was up 2% in the quarter and up 8% year-on-year.”
Alistair Cox, Hays chief executive officer, says: “This has been another good quarter of growth for the group as we continued to capitalise on improving conditions in many of our key markets, leading to an increase in our expectations for full-year profits.
“Elsewhere around the world we saw continued recovery in many European, Asian and American markets, and seven of our businesses delivered record monthly net fees, including key businesses such as Germany, Canada and Japan.”
