Growth slows

Hays growth slows in first quarter.

Hays board said its third-quarter growth in its UK and Ireland division slowed from the first half as group quarterly like-for-like net fees increased 17%.

The company said that while it is mindful of the current economic uncertainty, it remains confident on its outlook for the year.
Hays grew the number of consultants by 3% to 5,894, driven by investment in the International business.

In its UK and Ireland division, growth slowed from the first half of the year hurt by the current economic uncertainty as well as Easter falling earlier this year, which affected growth by 2%. UK & Ireland business grew 5% on a like-for-like basis during the quarter to March 31.

The company said that among the other specialist recruitment activities, education, retail and purchasing performed strongly, while demand in City-related activities weakened during the quarter.

Its international business, which now represents 42% of group's net fees, grew 39% on a like-for-like basis in the third quarter. The company added five new offices to its network during the quarter and said that it will continue to invest in its international business to capture the substantial opportunities available in these markets.

Hays shares rose on the news and at 08:02 am were up 2.8%, or 3 pence, to 110.25 pence.

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