Boom in German jobs helps Hays

Germany's booming jobs market is set to see annual profits at Hays come in at the top of forecasts.

Shares in the white-collar recruitment group jumped nearly 9 per cent to 88.5p yesterday after it reported record fees in Germany, up 36 per cent, in its third quarter to the end of March, with growth "across all sectors and in permanent, contracting and temporary placement businesses".

France also did well and the nine other countries in Hays' portfolio – including Belgium, Brazil, Canada, India and Russia – increased net fees by 20 per cent or more.

However, Hays' net fees in the UK and Ireland fell 5 per cent during the third quarter. The company axed 5 per cent of its staff here between January and March.