Hays Q3 net fees fall 10%

8th Apr 2010 07:30

Recruiter Hays reported a 10% decline in quarterly like for like net fees but has seen stability in the UK and progress in most of its markets. "In the UK, we are seeing sequential growth in the private sector offset by reductions in the public sector," Hays said in a company statement.Net fees from the temporary placement business fell by 12% and fees from permanent placement business declined 6%.In Asia Pacific, Hays saw improving trends in Australia and is seeing a broad-based recovery across the other Asian countries. In Continental Europe & Rest of World, the group saw strong growth in Brazil and the early signs of recovery in Germany. There was broad stability across most other countries except Spain and the UAE, which continued to weaken. Chief executive Alistair Cox added, "We have maintained our strong cash flow performance and dividend throughout the downturn and are positioned better than ever to capitalise on cyclical and structural growth in each of our markets as they recover over time."