Business
Trading Statement
Trading Statement.
About this update from Hays Plc
[{"type":"text","content":"\n \nHAYS PLC\n\nTRADING UPDATE\nQUARTER ENDED \n31 DECEMBER 2012\n\n10 January 2013\n\n\n\nFinancial summary\n\nGrowth in net fees for the quarter ended 31 December 2012 (Q2 FY13)\n(versus the same period last year) Growth \n Actual LFL(1)\nBy region \n Asia Pacific (14)% (14)%\n Continental Europe & Rest of World 6% 12%\n United Kingdom & Ireland (3)% (3)%\n Total (3)% (1)%\n \nBy segment \n Temporary (1)% 1%\n Permanent (7)% (5)%\n Total (3)% (1)%\n \n(1) LFL (like-for-like) growth represents organic growth at constant currency. \n\nHighlights\n\n· Group net fees decreased 1%(1) versus prior year\n\n· Strong growth of 12%(1) in Continental Europe & Rest of World, driven by\n continued strong performance in Germany which grew 14%(1)\n\n· Asia Pacific net fees decreased 14%(1). Australia & New Zealand decreased \n 15%(1) with a step-down in activity in the Resources & Mining business. \n Asia decreased 6%(1)\n\n· Net fees decreased 3% in the UK & Ireland and were sequentially stable through\n the quarter. Private sector decreased 9%, public sector grew 15%\n\n· Increasingly selective investment approach and focussed cost control through \n the quarter\n\n· Consultant headcount was down 1% in the quarter and ended December down 3% \n year-on-year \n\n· Net debt ended the quarter at c.£145 million, in line with expectations\n\n\nCommenting on the Group's performance in the second quarter, Alistair Cox,\nChief Executive, said:\n\n\"Whilst several markets around the world were fragile, the fact that we've\nbuilt such a well-diversified and balanced business enabled us to deliver a\nsolid result in the quarter. 12 countries around the Group delivered net fee\ngrowth of 10%(1) or more including Germany, which is operating at record\nlevels, and key markets such as Brazil, Canada and Russia. Other markets\nremained tough, notably the UK, Southern Europe and Banking-related\nspecialisms, and we saw a step-down in activity levels in our Australian\nResources & Mining business.\n\nThe start to the New Year is always a key time and we are closely monitoring\nactivity levels in all of our markets. Overall, we expect conditions to remain\nfragile but we continue to see opportunities for growth in several key parts of\nour business. We will invest accordingly to fully capitalise on these growth\nopportunit...