HAYS PLC
INTERIM MANAGEMENT STATEMENT
QUARTER ENDED 31 MARCH 2012
12 April 2012
Financial summary
Growth in net fees for the quarter ended 31 March 2012 (Q3) Growth
(versus the same period last year)
Actual LFL*
By region
Asia Pacific 17% 9%
Continental Europe & Rest of World 27% 26%
United Kingdom & Ireland (5)% (5)%
Total 12% 10%
By segment
Temporary 16% 14%
Permanent 8% 5%
Total 12% 10%
* LFL (like-for-like) growth represents organic growth at constant currency.
Highlights
· Good Group net fee growth of 10%* versus prior year
· International business delivered strong growth of 18%* and represented
70% of net fees in the quarter
· Strong growth of 26%* in Continental Europe & Rest of World, driven by
continued excellent performance in Germany which grew by 36%*
· Good growth of 9%* in Asia Pacific, with 9%* growth in Australia & New
Zealand, and 5%* growth in the rest of Asia
· Net fees decreased 5% in the UK & Ireland, with private sector declining
6%. Public sector net fees declined 2%
· Based on the Group's year-to-date performance and our current view on
outlook, we expect full year operating profit to be towards the top of the
current range of market estimates
Commenting on the Group's performance in the third quarter, Alistair Cox, Chief
Executive, said:
"We have made an encouraging start to the second half with good performances in
many parts of the Group. In our International business, which now accounts for
70% of total net fees, growth accelerated to 18%*. 13 countries around the
world grew by over 20%* and our market-leading German business was amongst 7
countries that delivered record performances. In the UK, markets remain
difficult, especially in Banking and the public sector.
Looking ahead, many parts of the Group continue to grow, but ongoing
uncertainty about the global economic outlook means that our markets around the
world remain complex and far from uniform. Against this backdrop, we will
continue to invest selectively in growth areas whilst at the same time reacting
to changing conditions in each of our countries and specialisms to maximise
fees and profitability. Our unrivalled global footprint, sectoral
diversification and market leadership in so many countries positions us well to
capitalise on today's complex markets as well as the long-term opportunities
for growth which remain undiminished."
