13th Jan 2016 07:43
LONDON (Alliance News) - FTSE 250 recruiter Hays PLC on Wednesday said its net fee income grew in the second quarter, despite some weakness emerging in Asia Pacific as a result of the slowdown in the mining industry in Australia.
Hays said its total net fee income for the quarter to the end of December grew 3.0%, with like-for-like constant currency growth of 7.0%. The strongest performance came in its Continental Europe and Rest of the World division, helped by a recovery in Germany and broad-based positive trading elsewhere in the region.
Asia Pacific net fee income fell 8.0%, though, hit by the slowdown in the mining sector in Australia and general weakness across the region, caused by a weakening economy in China. UK & Ireland net fee income rose 1.0%, with growth slowing against tough comparators.
"As ever, activity levels at the start of the new year will be an important driver of the group's second half performance and, while we are mindful of the greater uncertainty our world faces today, we continue to see many opportunities to drive growth. Against this backdrop, our focus remains on continual improvement in business productivity and disciplined cost control in order to maximise the conversion of net fee growth into profit and cash," said Hays Chief Executive Alistair Cox.
By Sam Unsted; [email protected]; @SamUAtAlliance
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