FINANCIALS: Hays profits, prioritises organic growth
25 February 2015
Hays plans to prioritise organic growth of its business both in the UK and overseas in 2015, according to group finance director Paul Venables.
Wed, 25 Feb 2015Hays plans to prioritise organic growth of its business both in the UK and overseas in 2015, according to group finance director Paul Venables.
While the recruitment giant took an 80% stake in US recruitment firm Veredus in December 2014, Venables told Recruiter it would be organic growth rather than strategic acquisitions that will drive Hays’ business strategy in 2015. /news/2014
“We do do modest acquisitions but 95%-plus of this growth will be organic growth in the cities we’re in today,” he said.
Venables attributed the growth potential to “the economic recovery we’ll see in the UK but more broadly across Europe and Asia”.
Hays’ H2 2014 results, released today [25 February], reveal net fees of £383.9m, up from £363.4m in the second half of 2013, and an operating profit of £81.5m, up from £66.7m in H2 2013.
Across its operations, profit before tax was £77.3m in H2 2014, up from £62.5m in the second half of 2013.
While the recruitment giant took an 80% stake in US recruitment firm Veredus in December 2014, Venables told Recruiter it would be organic growth rather than strategic acquisitions that will drive Hays’ business strategy in 2015. /news/2014
“We do do modest acquisitions but 95%-plus of this growth will be organic growth in the cities we’re in today,” he said.
Venables attributed the growth potential to “the economic recovery we’ll see in the UK but more broadly across Europe and Asia”.
Hays’ H2 2014 results, released today [25 February], reveal net fees of £383.9m, up from £363.4m in the second half of 2013, and an operating profit of £81.5m, up from £66.7m in H2 2013.
Across its operations, profit before tax was £77.3m in H2 2014, up from £62.5m in the second half of 2013.
