Hays

The Daily Telegraph - Business - - Business | Comment -

Hays’ over­seas op­er­a­tions helped the re­cruit­ment firm post bumper quar­terly growth fig­ures as it looks to pur­sue its rapid in­ter­na­tional ex­pan­sion, writes Char­lie Tay­lor-Kroll.

The FTSE 250 com­pany, which places work­ers across sec­tors from fi­nance to con­struc­tion, said it saw a 9pc growth in like-for­like net sales.

How­ever, an­a­lysts at Jef­feries warned net fee growth in the quar­ter was be­low con­sen­sus due to “slower mo­men­tum in Ger­many and rest of the world”. Shares in the re­cruiter duly tum­bled 11pc, to their low­est level in more than a year.

Hays re­cently posted a 17pc rise in pre-tax profit for the year to June 30, at £238.5m, while net fees rose 12pc to a record £1.07bn. The com­pany also said it would con­tinue to in­vest sig­nif­i­cantly in Ger­many, France and the US as part of its five year plan. An­a­lysts at Liberum said growth op­por­tu­ni­ties abroad means that the com­pany is in a “strong po­si­tion to de­liver at­trac­tive fee in­come”.

Alistair Cox, chief ex­ec­u­tive, said the com­pany made a “good start” to the fi­nan­cial year, adding “while [Hays] is mind­ful of macroe­co­nomic con­di­tions, the out­look re­mains pos­i­tive across our in­ter­na­tional mar­kets”.

In a hurry: Hays is pur­su­ing rapid global ex­pan­sion

Alistair Cox Chief ex­ec­u­tive

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