Accountancy and finance jobs boost Hays’ profits

Specialist recruitment company Hays has seen record growth in the first half
of this year, with net fees from its accountancy and finance division up 11% on
last year.

Accountancy and finance fees grew to £165.9m from £149.2m in 2004, with both
temporary and permanent recruitment fees increasing. The strongest growth was in
the South East of England, but other regions achieved ‘a robust performance’ a
company statement said.

The company’s new specialist HR, purchasing, and sales and marketing
divisions also performed well and are likely to become businesses in their own

Bob Lawson, chairman of Hays, said: ‘Hays, now focused entirely on specialist
recruitment, generated strong net fee growth, 16% ahead of last year at £470.6m
(2004 – £404.7m), and growth in operating profit before goodwill amortisation
25% ahead of last year at £167.1m (2004 – £133.4m) – both at record levels.

‘Specialist recruitment operating cash flow of £158.0m was also very strong.
Each of the three regions of the United Kingdom & Ireland, continental
Europe and Canada, and Australia and New Zealand grew substantially.’

Related reading

The Practitioner