Business
3rd Quarter Update
3rd Quarter Update.
About this update from Hays Plc
[{"type":"text","content":"\n \nRNS Number : 1394V Hays PLC 14 April 2016 \n\n-\nQUARTERLY UPDATE\nFOR THE THREE MONTHS ENDED\n31 MARCH 2016\n14 April 2016\n \nFinancial summary\nGrowth in net fees for the quarter ended 31 March 2016 (Q3 FY16)\n\n\n\n\n(versus the same period last year)\n \n\n\nGrowth\n\n\n\n\nActual\n\n\nLFL(1)\n\n\n\n\nBy region\n\n\n \n\n\n \n\n\n\n\n \n\n\nAsia Pacific\n\n\n2%\n\n\n3%\n\n\n\n\n \n\n\nContinental Europe & Rest of World\n\n\n14%\n\n\n11%\n\n\n\n\n \n\n\nUnited Kingdom & Ireland\n\n\n(3)%\n\n\n(3)%\n\n\n\n\n \n\n\nTotal\n\n\n5%\n\n\n4%\n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\nBy segment\n\n\n \n\n\n \n\n\n\n\n \n\n\nTemporary\n\n\n3%\n\n\n2%\n\n\n\n\n \n\n\nPermanent\n\n\n8%\n\n\n8%\n\n\n\n\n Total\n\n\n5%\n\n\n4%\n\n\n\n\n \nHighlights\n· Good overall growth of 4%(1), despite a c.2% negative impact due to the timing of Easter(3)\n· Strong growth of 11%(1) in Continental Europe & Rest of World, including continued strong underlying performance in Germany, up 5%(1), despite a c.5% negative Easter impact. Elsewhere 17 countries grew by over 10%(1) including excellent performances in France, up 19%(1) and the USA, up 25%(1)\n· Solid Asia Pacific growth of 3%(1), including 3%(1) growth in Australia & New Zealand, where conditions remained stable overall, but mixed. Asia delivered good growth of 5%(1), including China up 11%(1)\n· UK & Ireland decreased by 3%(1), against challenging comparatives. Public sector markets remained tough, down 9%(1). Private sector was flat(1) as client sentiment remained cautious\n· Group consultant headcount was up 4% year-on-year but down 3% through the quarter as we focused on delivering continued good Group profit performance\n· Net debt ended March at c.£45 million (December 2015: £56 million) and we expect a further material reduction in net debt in Q4 as we continue to target a net cash position\n \nCommenting on the Group's performance, Alistair Cox, Chief Executive, said:\n \n\"We had a good start to the second half and delivered our...