Hays fees up in overseas boost

City A.M. Reporter
British recruitment group Hays posted a 16 per cent jump in net fees, led by its strong international business and said its outlook remained positive in nearly all its markets outside of the UK public sector.

Hays, which specialises in placing office workers such as accountants and secretaries, said on Thursday it had seen excellent growth in continental Europe, South America and Asia for the third quarter to the end of March, 2011.

In the UK, an 18 per cent rise in net fees in the private sector was offset by a 37 per cent drop in the tough public sector.

Hays said the combined impact of the natural disasters in Australia, New Zealand and Japan was estimated to have reduced group net fee growth by one per cent this quarter.

The company, which generates nearly two thirds of its business from outside the UK, had reported a 23 per cent rise in first half net fees in February, driven by strong performances in Asia Pacific and Europe.