London-based global staffing firm Hays plc reported net fees, also called gross profit, were flat in the second quarter.

Gross profit was up in both its German market, the company’s largest single geography, and its “rest of the world” segment, which includes the US and Canada and other countries. However, gross profit fell in its Australia and New Zealand market and in the UK and Ireland.

“Europe saw mixed conditions, although our largest market of Germany delivered solid underlying growth, and Southern Europe performed well,” Hays Chief Executive Alistair Cox said in a statement. “The UK was understandably more subdued, particularly in the private sector.”

*Like for like change represents organic growth of continuing operations at constant currency.

Hays’ “rest of world” segment comprises 28 countries. The company noted US gross profit fell 4% on a like-for-like basis but rose by 2% in Canada. Gross profit was up 10% on a like-for-like basis in Asia, but gross profit in Europe — excluding Germany, the UK and Ireland — was flat like for like.

The company noted there were broad signs of client cost control and slower decision-making in Germany, which were increasingly evident in the manufacturing and automotive sectors.

It reported the run-up to the Australian general election led to a slowdown in market activity there.

Hays had approximately 11,500 employees in 265 offices in 33 countries as of June 30.

The Australia and New Zealand market represents 18% of gross profit, the German market represents 25%, the UK and Ireland represent 23%, and the “rest of world” market represents 34%.

Share price and market cap

Shares in Hays were down 0.86% to £150.20 as of 4:15 p.m. British Summer Time in London; the company had a market cap of £2.21 billion, according to FT.com.