Hays to spend pounds 200m in Europe

HAYS, the support services group, is planning to spend pounds 200m on acquisitions in Europe this year.

The group, whose interests cover the distribution, personnel and document handling sectors, is looking principally at private businesses to add to its pounds 92m acquisition spree in the first half of its financial year. Hays yesterday reported a 20 per cent increase in first-half profits to pounds 110m, with the personnel division raising profits by 30 per cent. Ronnie Frost, the chairman (pictured), said he did not expect to see a recession in Britain.