Saturday 3 December 2016

Recruitment firm Hays beats market expectations with €214m profit

Published 14/07/2016 | 08:00

Richard Eardley, Hays managing director says recruitment is back on the agenda.
Richard Eardley, Hays managing director says recruitment is back on the agenda.

Recruitment company Hays said it expected full-year operating profit of about £180m (€214m), ahead of current market expectations, helped by strength in continental Europe.

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Hays said its continental Europe and rest of world unit reported like-for-like growth of 21pc in the fourth quarter ended 30 June, helped by strength in Germany, France and Switzerland.

The company, which places workers in areas such as finance, construction and IT, said UK and Ireland net fees fell 4pc. Private-sector sentiment weakened in the run-up to the country's referendum on remaining a member of the EU, it added.

Peers Sthree and PageGroup said earlier this week that hiring in the UK had slowed ahead of the referendum.

Analysts estimate the company will earn a full-year operating profit of about £177m, according to a company provided consensus.

Reuters

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