Hays sees strong international growth
Hays says the outlook remains ‘good’ across all its markets as it records strong international growth in a trading update for the quarter ended 31 December 2010.
Hays says the outlook remains ‘good’ across all its markets as it records strong international growth in a trading update for the quarter ended 31 December 2010.
The group’s results reveal:
Growth in net fees for the quarter ended 31 December 2010 (versus the same period last year)
By region | Actual growth | LFL* growth |
Asia Pacific | 53% | 36% |
Continental Europe & Rest of World | 33% | 37% |
UK & Ireland | 1% | 1% |
Total | 24% | 21% |
By segment | Actual growth | LFL* growth |
Temporary | 9% | 7% |
Permanent | 45% | 42% |
Total | 24% | 21% |
* LFL (like-for-like) growth represents organic growth at constant currency.
Hays saw group net fee growth of 21% on the previous year driven by strong performances in Asia Pacific and Continental Europe & Rest of World divisions, while also recording net fee growth in Germany of 47% on the previous year.
In the UK, the international recruiter posted net fee growth of 28% in private sector markets versus the prior year, offset by tougher conditions in the public sector down 38% on the previous year.
Alistair Cox, chief executive of Hays, says: “The breadth and strength of growth this quarter is reflected by the fact that 19 countries grew net fees by more than 20% versus prior year. Collectively the international business grew net fees by 37% versus prior year and several of our country businesses in Asia and Europe are now operating back above their pre-downturn levels. The outlook remains good across nearly all of our markets, including the UK private sector, and we continue to increase consultant headcount in order to capture the opportunities for growth.
“During the quarter we launched operations in Mexico and the US, continuing the investment we have made in our international platform over the past 10 years. Today, 65% of the group’s net fees are from the international business and this, together with the investments we have made in the business, places us ideally to benefit from the long-term structural growth opportunities in our markets.”
