Europe comes to Hays' rescue as UK and Asia stall
Annual profits at Hays are set to come in at the top of City expectations, the white-collar recruiter has said. But Alistair Cox, the chief executive of the jobs giant that employs almost 8,000 staff of its own, warned: "We expect conditions to remain fragile."
Hays' net fees slipped by 3 per cent in the three months to April, with its Asia Pacific unit – which brings in more than a quarter of the company's business – facing a 15 per cent fall in revenues. UK and Ireland earnings were flat, failing to grow at all in the past three months compared with the same time a year earlier.
Only Hays' continental Europe business grew in the quarter – up 5 per cent. That helped the whole business, as Hays' offices in continental Europe and the rest of the world bring in more than 40 per cent of net fees.
The recruiter said Germany saw strong performances in accountancy and finance, while construction, life sciences, IT and engineering were also strong.
In January, Hays claimed it had "turned the corner" in the UK, but that was not much in evidence in the figures. Over the past three months revenues in the UK and Ireland saw "modest" improvement, Hays said, driven by a rise in temporary posts – but while fees from public sector jobs shot up 17 per cent in the quarter, it saw a 6 per cent decline in revenues from public sector positions.
- 1 Autistic adults could take pure MDMA to 'reduce social anxiety'
- 2 Natalie Portman tells Harvard graduates: 'Accept your lack of knowledge'
- 3 Father of 12 accused of raping, beating, starving and abusing his own children in US 'cult'
- 4 Britain's Got Talent 2015: Jamie Raven divides Twitter as fans expose mind-boggling magic trick
- 5 Charlie Charlie Challenge explained: not a Mexican demon being summoned — it's gravity
People are criticising Fifa World Cup sponsors with corrupt corporate logos
Natalie Portman tells Harvard graduates: 'Accept your lack of knowledge'
University league tables: Best universities for teaching standards rank Oxford, Cambridge and Coventry among top 20
Fifa corruption live: Sebb Blatter warns 'more bad news may follow' as he clings to power
Skull found in Spain could be the world's first-ever murder victim
EU referendum: David Cameron's rules are a 'democratic disgrace', says French-born Scottish politician set to be denied a vote
The day that Britain resigned as a global power
SNP fury as HS2 finds 'no business case' for taking fast train service to Scotland
Australian man punched in the face for defending Muslim women from abuse on train
A nation of inequality: How the UK is failing to feed its most vulnerable people
David Starkey 'tells Amal Clooney to shut up and stop over-promoting human rights'
iJobs Money & Business
£30 - 35k: Guru Careers: We are seeking a Pricing Analyst to join a leading e-...
£20000 - £25000 per annum + OTE £45K YR1: SThree: At SThree, we like to be dif...
£20000 - £25000 per annum + competitive: SThree: Did you know? SThree is a mul...
£55 - 65k (DOE): Guru Careers: A unique opportunity for a permanent C# Develop...