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View All NewsHays plc reports revenue up in first half of year
Global staffing provider Hays plc reported overall market conditions remained strong in the six months ended Dec. 31 — the first half of its fiscal year — in the majority of its international markets, while the UK market remained subdued but stable. UK-based Hays, which ranks as the sixth-largest staffing firm in the world, reported turnover (revenue) rose 12% in the six months on a like-for-like basis, which measures growth on an organic basis at constant currency.
| (£ millions) | H1 2018 | H1 2017 | % change | % change like-for-like | H1 2018 (US$ millions) |
| Turnover (revenue) | £2,828.9 | £2,484.5 | 14% | 12% | $3,816.5 |
| Net fees (gross profit) | £525.8 | £465.5 | 13% | 12% | $709.4 |
| Operating profit | £116.5 | £100.1 | 16% | 14% | $157.2 |
| Profit from continuing operations after tax | £78.0 | £65.4 | 19% | - | $105.2 |
Net fees (gross profit) rose 12% on a like-for-like basis with the fastest growth in the company’s Germany segment. Net fees rose 15% like-for-like in Australia and New Zealand and 15% like-for-like in the company’s “Rest of World” segment, which includes Europe (excluding Germany, the UK and Ireland), Asia and the Americas. Net fees in the US rose 13% like-for-like and net fees in Canada rose 5% like-for-like.
Net fees
| (£ millions) | H1 2018 | H1 2017 | % change | % change like-for-like | H1 2018 (US$ millions) |
| Australia and New Zealand | £99.8 | £87.2 | 14% | 15% | $134.6 |
| Germany | £134.8 | £110.7 | 22% | 17% | $181.9 |
| United Kingdom and Ireland | £127.5 | £126.1 | 1% | 1% | $172.0 |
| Rest of World | £163.7 | £141.5 | 16% | 15% | $220.9 |
Share price and market cap
Shares in Hays closed down 4.5% at £195.40 (US$272.71); it had a market cap of £2.83 billion (US$3.95 billion).