Hays revenues slump

8th Oct 2009 07:40

Recruitment firm Hays posted continuing sharp revenue falls across its geographical and business divisions in the quarter to September 30, with permanent recruitment fees leading the decline, falling by half.Fees at the permanent division fell by 50% on an actual basis and by 52% on a like-for-like basis. Fees from temporary recruitment were down by 24% and 27% respectively.Actual revenues were down by 41% in the UK and Ireland, 40% in Asia Pacific and by 27% in the continental Europe/rest of world division.'The specialist recruitment markets continue to be very challenging,' the firm said.'As we said at our preliminary results, we are seeing early signs of stability in the United Kingdom and broader signs of stability in Asia Pacific, although at present no indications of recovery in either market.'