FINANCIALS: Hays profit jumps 12%
28 August 2014
Improved consultant productivity and overhead cost reductions, as well as improved market conditions, has seen global recruiter Hays’ pre-tax profit jump 12% to £132.3m, and net fee income (NFI) rise 1% to £724.9m in the year to 30 June.
Thu, 28 Aug 2014
Improved consultant productivity and overhead cost reductions, as well as improved market conditions, has seen global recruiter Hays’ pre-tax profit jump 12% to £132.3m, and net fee income (NFI) rise 1% to £724.9m in the year to 30 June.
This sets the company on track to double operating profits by 2018, chief executive Alistair Cox said in a statement today.
Operating profits rose 12% to £140.3m in the last year, or 20% in like-for-like terms.
The company’s statement said an 8% like-for-like NFI growth in Continental Europe and the rest of the world drove the 20% increase.
There were 14 countries, including Belgium, Poland and Switzerland, that delivered like-for-like NFI growth of over 10%.
Like-for-like NFI was down in Australia (13%) and Asia Pacific (6%) but up by 25% in Asia.
The company, which employs 8,237 people, 5,357 of which are consultants, in 237 offices across 33 countries, increased its consultant headcount by 6% in anticipation of further growth.
In the UK & Ireland, NFI rose 11% to £246m and operating profit rose 368% from £5.6m to £26.2m.
The construction and property sector delivered the most significant growth in this region but accountancy and finance remained the company’s largest specialism. Activity levels in banking, however, decreased.
Improved consultant productivity and overhead cost reductions, as well as improved market conditions, has seen global recruiter Hays’ pre-tax profit jump 12% to £132.3m, and net fee income (NFI) rise 1% to £724.9m in the year to 30 June.
This sets the company on track to double operating profits by 2018, chief executive Alistair Cox said in a statement today.
Operating profits rose 12% to £140.3m in the last year, or 20% in like-for-like terms.
The company’s statement said an 8% like-for-like NFI growth in Continental Europe and the rest of the world drove the 20% increase.
There were 14 countries, including Belgium, Poland and Switzerland, that delivered like-for-like NFI growth of over 10%.
Like-for-like NFI was down in Australia (13%) and Asia Pacific (6%) but up by 25% in Asia.
The company, which employs 8,237 people, 5,357 of which are consultants, in 237 offices across 33 countries, increased its consultant headcount by 6% in anticipation of further growth.
In the UK & Ireland, NFI rose 11% to £246m and operating profit rose 368% from £5.6m to £26.2m.
The construction and property sector delivered the most significant growth in this region but accountancy and finance remained the company’s largest specialism. Activity levels in banking, however, decreased.
