Business
Q2 Trading Update
Q2 Trading Update.
About this update from Hays Plc
[{"type":"text","content":"\n \nRNS Number : 5497B Hays PLC 11 January 2018 \n\nQUARTERLY UPDATE\nFOR THE THREE MONTHS ENDED\n31 DECEMBER 2017\n11 January 2018\n \n \nFinancial summary\nGrowth in net fees for the quarter ended 31 December 2017 (Q2 FY18)\n\n\n\n\n(versus the same period last year)\n \n\n\nGrowth\n\n\n\n\nActual\n\n\nLFL\n\n\n\n\nBy region\n\n\n\n\n\n\n\n\n\n\n\n\n\nAsia Pacific\n\n\n10%\n\n\n16%\n\n\n\n\n\n\n\nContinental Europe & Rest of World\n\n\n19%\n\n\n17%\n\n\n\n\n\n\n\nUnited Kingdom & Ireland\n\n\n1%\n\n\n1%\n\n\n\n\n\n\n\nTotal\n\n\n12%\n\n\n13%\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\n10%\n\n\n11%\n\n\n\n\n\n\n\nPermanent\n\n\n14%\n\n\n15%\n\n\n\n\n Total\n\n\n12%\n\n\n13%\n\n\n\n\nNote: unless otherwise stated, all growth rates discussed in this statement are LFL (like-for-like) fees, representing organic growth of continuing operations at constant currency.\nHighlights\n· Strong overall growth of 13%, led by excellent performance in our International businesses, which now represent 76% of Group net fees\n· Broad-based performance, with 24 of our 33 countries growing in excess of 10%\n· Excellent growth of 17% in Continental Europe & Rest of World, with the Group's largest business, Germany, up 19% (c.23% adjusted for working days(1)) and France up 14%\n· Asia Pacific up 16%. Growth in Australia was strong, up 14%, and Asia delivered an excellent performance, up 24%\n· Our business in the UK & Ireland remained stable, up 1%. Our private sector business grew modestly at 4%, while public sector markets remained tough and net fees were down 8%\n· Group consultant headcount up 3% in the quarter and up 13% year-on-year. In particular, we continued to materially invest in Germany (+30% YoY), Australia (+16% YoY) and USA (+16% YoY)\n· Our first half cash performance has been good. After paying £94.3m in special and final dividends in November, we ended Q2 with c.£35 million net cash (30 September 2017: c.£60 million)\n \nCommenting on the Group's performance, Alistair Cox, Chief E...