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15 Jan 2019 | 07:24

Hays net fees income bolstered by international growth in Q2

Recruitment group Hays said Tuesday net fees income in its fiscal second-quarter was bolstered by growth in its international businesses.

For the three months to 31 December, total net fees increased 8% on a headline basis and 9% on a like-for-like basis from a year earlier.

The company's temporary and permanent business, which represented 58% and 42% of group net fees, respectively, both grew 9% in the quarter.

The uptick in net fees for the quarter were driven by its international business, which grew net fees by 11%.

Germany -- Hay's largest market -- saw strong net fee growth of 15%. While, in the UK and Ireland net fees increased just 3% amid flat net fee growth in its private sector business.

Net fee growth was expected to receive a 1% boost in the fiscal third quarter of the year, with a corresponding 1% negative impact in fourth quarter as Easter this year would fall entirely in the fourth quarter, while last year it was evenly split between the third and fourth quarter, the company said. 'While activity levels at the start of the New Year will be an important driver of the Group's second half performance, and we remain mindful of macroeconomic conditions, the outlook is good across most International markets,' said Alistair Cox, Chief Executive.

Story provided by StockMarketWire.com
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