14th Oct 2021 14:02
(Alliance News) - Recruitment and human resources company Hays PLC on Thursday reported rising net fees at the start of its new financial year.
In the first quarter ended September 30, net fees grew by 41% year-on-year and on a like-for-like basis. Temporary markets rose 26% and permanent markets jumped 65%.
By comparison, Hays had reported a 29% year-on-year drop in net fees in the first quarter of financial 2021, also on a like-for-like basis.
The FTSE 250-constituent said its comparatives from the year prior were "significantly impacted" by the Covid-19 pandemic.
Chief Executive Alistair Cox said: "We have made a strong start to our financial year, with sequential fee growth in all major markets. Twelve countries produced record net fees, including the US and China, and our global Hays Technology business also hit record fees.
"In continental Europe, activity levels remained high, with less of a seasonal summer slowdown than normal, and our largest market of Germany ended the period with a record number of contractors," Cox added.
Hays said it was confident of increasing its market share further as the economic recovery from the pandemic continues.
Shares in Hays were trading up 2.8% at 166.90 pence each in London on Thursday afternoon.
By Scarlett Butler; [email protected]
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