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Hays plc (HAS:LSE), has today issued an interim management statement for the quarter ended 30 September 2009.
Group net fees were down by -37% compared to the same quarter last year. Net fees from permanent placements decreased by -52% whilst net fees from temporary placements decreased by -27%.
Net fees in the private sector were down by -47%, net fees in the public sector were down by -13%. Head count was reduced by -5%.
In the United Kingdom and Ireland net fees fell by -41% versus the same period last year. In continental Europe and RoW, net fees decreased by -32%. Net fees in the German business, which primarily focuses on the IT contracting market fell by -19%.
Alistair Cox, Chief Executive of Hays plc said, "the specialist recruitment markets continue to be very challenging. We are seeing early signs of stability in the United Kingdom and broader signs of stability in Asia Pacific, although at present no indications of recovery in either market. The Continental Europe markets, which entered into the downturn later than other regions, are still experiencing deteriorating conditions although the rate of decline has moderated. Whilst the indications are that this year will be another tough year for our industry, the downturn presents opportunities for market leading companies like Hays to gain share and we will continue to pursue those opportunities and invest in our business accordingly."
"We are investing more in training our own people and building our business to be deeply specialised in the various industries and disciplines we operate in. By underpinning our expertise with the advanced technology platforms we are installing, we believe we can deliver the most efficient and tailored services available in our industry."
In early trading Hays shares were up 0.19% to 106.40 Pence.