FINANCIALS: Hays reveals double-digit growth but muted UK performance

Recruitment giant Hays has seen net fee income grow 13% year-on-year, buoyed by a strong performance of its European business.

According to a trading update for the quarter ended 31 December 2017, NFI growth was led by “excellent growth of 17% in the group’s Continental Europe & Rest of World business, with Germany NFI up 19% and France up 14%”.

Asia Pacific saw NFI rise 16%, with Australia up 14% and Asia up 24% on the previous year.

More muted NFI growth was posted in the UK, however, with UK & Ireland up just 1%. Here the group’s private sector business grew 4%, while public sector markets remained tough, with net fees down 8% on the same quarter last year.

Commenting on the group’s performance, CEO Alistair Cox said: “We have delivered another strong quarter of broad-based growth with net fees up 13% and 24 of our 33 countries delivering double-digit growth. Performance in Continental Europe was excellent, led by Germany, our largest business, which grew by 19% and where we continued to materially invest in consultant headcount. Australia delivered another strong, market-leading performance and in Asia we delivered excellent growth. In the UK our business remained stable overall.”

• Comment below on this story. You can also tweet us to tell us your thoughts or share this story with a friend. Our editorial email is [email protected]

FINANCIALS: Empresaria reveals fall in profits, but Offshore Services delivers growth

Empresaria’s Offshore Services operations proved to be the shining light in the company’s fortunes in 2023, according to the global specialist staffing group’s annual results.

Financials 27 March 2024

Revenue growth of almost £4m in Norman Broadbent year-end results

Norman Broadbent has revealed its best financial results in over a decade.

Financials 27 March 2024

Loan Charge campaigners ‘frustrated’ as HMRC ‘airbrushes’ history

The Loan Charge Action Group (LCAG) has reinforced its calls for a parliamentary inquiry as the loan charge continues to weigh heavily on Westminster.

Legislation 19 March 2024

Bain and Gray moves to employee ownership trust

London, Soho-based executive secretarial and PA recruiter Bain and Gray has announced its transition to an Employee Ownership Trust (EOT).

Financials 23 January 2024
Top