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In the fourth quarter ending 30 June 2013, Hays Group reported that new fees increased +1% on a like-for-like basis compared with Q4 2012. Net fees for temporary recruitment equated to 58% of net fees for the quarter, an increase of +5%, year-on-year.
“We have delivered a good performance in the final quarter of our financial year. Our focus has remained on reacting quickly to the world as it changes, selectively investing in markets where we see opportunities while keeping firm control over costs around the Group. This approach, combined with the well-diversified, balanced business model we have built, means that we’ve delivered a resilient financial performance for the full year,” said Alistair Cox, chief executive for Hays Group.
Asia-Pacific proved the most challenging sector with net fees recording a -13% drop. The Asia-Pacific region represents 28% of the Group’s net fees. In Australia and New Zealand net fees fell -17%; with temporary business falling -13% and permanent business falling by -25%. Japan delivered net fee growth of +13%, as did Hong Kong (+21%) and Singapore (+27%).
Continental Europe and the rest of the world equates to 40% of Group net fees. Growth was recorded at +9% for the region, as markets were stable overall and the number of working days was higher than in the previous quarter and the same quarter last year. Net fees increased in Germany by +9%, with strong performances in Accountancy & Finance, Construction & Property, and Life Sciences.
Net fees across the UK & Ireland increased +7%; while permanent recruitment was flat, temporary business increased +12%. Net fee growth of more than +10% was recorded in the North West, Scotland, Northern Ireland, the Midlands, and Yorkshire. Net fees in the private sector business increased +6%. Market conditions were stable overall, with Construction & Property, IT, and HR providing the most growth. Banking and City-related specialisms remained subdued.
Looking ahead, we expect continued fragile and mixed conditions. Several markets are likely to remain challenging and these will sit alongside clear opportunities for growth. The diverse business we have built positions us well and we remain focussed on delivering long-term, sustainable growth while driving profits along the way,” Mr Cox added.