Accountant shortage boosts headhunter’s results

A skills shortage in the accounting and finance market has helped recruitment group Hays grow its net fees by 18% over the last six months.

Link: Skills gap spells crisis for UK plc

The company posted net fees of £226.1m for the six months to the end of December 2004, boosting operating profit 28% to £80.6m.

‘Over the last few years the number of trainees was reduced substantially and that’s now feeding through into shortages,’ said Hays chief executive Denis Waxman in The Daily Telegraph.

The company recently made the decision to focus entirely on recruitment, having sold off several other businesses, including logistics and its mail arm.

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