Hays reports drop-off in UK fees

RECRUITMENT company Hays has reported a drop in business from its domestic UK market, while overseas growth has slowed.

The company, which specialises in placing office workers such as accountants, IT workers and secretaries, reported that net fees from the UK fell by 7% in the second quarter to the end of December, although total fees rose by 8% over the period.

“In the UK, the environment remains difficult, especially in our banking and public sector-related specialisms,” said chief executive Alistair Cox.

Overseas business, which represents 70% of the company’s net fees, continued to grow, albeit at a slower rate than in the first quarter.

Hays reported like for like growth of 20% in continental Europe and the rest of the world, driven by Germany and France which grew by 20%. Asia Pacific, led by Australia, grew by 11%.

Related reading