Hays hammered at home, doing well abroad

7th Jul 2011 08:57

Hays, the FTSE 250 recruitment firm, has announced 11% growth in fees year on year, with an especially strong performance from its international division.New offices have been opened in in Brazil, Ireland, Japan and Poland and New Zealand and Australia saw impressive performances.The picture in the domestic market however is not as impressive where, although private sector recruitment was up 7%, the public sector market saw a contraction of 34%. Overall UK fees decreased by 6%.Ominously, Hays warns in its trading statement that recovery in the private sector, on which Britain is relying for growth in the wake of huge public sector cuts, is slowing.The statement failed to impress markets in early trading, with the share price down 2.62% at 100.40pBS