14th Apr 2016 06:38
LONDON (Alliance News) - Recruiter Hays PLC on Thursday said its net fee income grew in the third quarter despite a slowdown in activity in the UK & Ireland.
FTSE 250-listed Hays said its total net fee income for the third quarter to the end of March grew 5.0% year-on-year and was up 4.0% on a like-for-like, constant currency basis.
Asia Pacific net fee income grew 2.0% year-on-year in the quarter, while Continental Europe & Rest of the World net fee income rose 14%, driven by a strong underlying performance in Germany and despite a negative impact from Easter falling at the end of the quarter.
But net fee income in the UK & Ireland dipped 3.0% in the quarter from a year before, hit by tough public sector recruitment markets and flat activity in the private sector as client sentiment remained cautious ahead of the upcoming referendum on the UK's place in the European Union.
"Looking ahead, our good underlying financial performance around the world gives us confidence for our full year prospects. Conditions in many markets remain good, and we are delivering excellent results across Europe and the US. In the UK, client sentiment remains cautious and we expect this to continue through the fourth quarter. Against this overall backdrop, our focus remains on delivering continued strong profit growth," said Alistair Cox, chief executive of Hays.
By Sam Unsted; [email protected]; @SamUAtAlliance
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