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Hays says international operations led growth in most-recent quarter

January 11, 2018

Hays plc, the world’s sixth-largest staffing firm, reported strong growth in its global operations during its fiscal second quarter ended Dec. 31. The London-based firm, however, reported slower growth in the UK market.

In a trading statement issued today, London-based Hays reported net fee income — or gross profit — rose 12%, and was up 13% when viewing it on a “like-for-like” basis, which measures organic growth of continuing operations at constant currency. Temporary staffing net fee income rose 11% life-for-like while permanent placement net fee income rose 15%.

The second quarter’s strongest growth was in Hays’ “Continental Europe & Rest of World” segment where net fee income rose 17% on a like-for-like basis. Germany led the way with net fee income rising 19%, reported on a like-for-like basis. Europe net fee income rose 16% excluding Germany. The US also posted net fee income growth of 16% on a like-for-like basis; Canada rose 15%.

Net fee income in Hays’ Asia Pacific segment rose 16% like-for-like. Australian net fee income was up 14%.

In the company’s “UK and Ireland” segment, net fee income rose 1%. Hays reported net fee income rose 4% in the private sector, but net fee income fell by 8% in the public sector.

Chief Executive Alistair Cox said the company continued to see strong trading conditions in the majority of the company’s international markets at the start of the new year.