Search Share Prices
Hays reports Q3 net fee growth despite subdued UK
Personnel recruiter Hays reported third quarter like-for-like net fee growth of 10%, although Brexit worries continued to dog the UK and Ireland which posted a 2% fall in a "subdued" market.
At the specialism level in the UK and Ireland, net fees in office support grew 2%, construction and property 1% and IT was flat, while accountancy and finance fell 9%.
Education was down 13%, as it continued to be impacted by tough market conditions, Hays said.
Consultant headcount in the division was down 1% in the quarter and flat year-on-year, it added.
UK companies have become more cautious about recruiting in the wake of Britain's decision in 2016 to leave the European Union.
There was strong growth in Germany, which makes up 27% of net fees, with gross income up of 16% "despite increasingly tough comparatives", Hays said.
Hays rest of world division, which includes 28 markets, delivered net fee growth of 15%, with 17 markets growing by more than 10%, the company said.
Chief executive Alistair Cox said the company remained positive "in the vast majority of our markets".
"We continue to look to the future, including our five-year plan to broadly double profits by 2022, with confidence," he said.