Mixed performance continues at Hays

10th Jan 2013 07:08

Recruitment company Hays reported three per cent decline in quarterly net fee income and expects conditions to remain fragile.UK and Ireland net fees in the quarter ended December 31st fell 3% while in Asia Pacific it was down 14%. Continental Europe & Rest of World fared better, rising 6% during the quarter after a continued robust performance in Germany, which grew 14%.Australia & New Zealand decreased 15% after a reduction in activity in the Resources & Mining business. Commenting on the group's second quarter, Chief Executive Alistair Cox said: "Whilst several markets around the world were fragile, the fact that we've built such a well-diversified and balanced business enabled us to deliver a solid result in the quarter."While 12 countries around the group delivered net fee growth of 10% or more, it cautioned that other markets remained tough, notably the UK, Southern Europe and banking-related specialisms.Looking ahead Cox said overall he expects conditions to remain fragile but continues to see opportunities for growth in several key parts of the business. CJ