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The Markets
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The Markets
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Business & education services

Hays cautions UK recruitment is slowing

Growth slowed toward the end of the half in the UK and Australia as increased global uncertainty impacted sentiment, Hays said.

White collar recruiter Hays (LON:HAS) cautioned UK activity had slowed since the start of 2016 after a good first half.

Profits rose 7% to £82.4mln in the six months to December, while revenue rose 3% to £397mln.

Alastair Cox, chief executive, said it was a good performance especially the conversion of 8% fee growth into 15% higher profits.

“Market conditions remained good in many areas, particularly Europe, but growth slowed toward the end of the half in the UK and Australia as increased global uncertainty impacted sentiment,” he added.

UK fees rose by 3%, while Hays notched record income in 18 other territories including France, Germany, China and Japan.

“Looking ahead, we are mindful of increasing global uncertainties, but remain positive and see many opportunities to grow,” Cox added.

The dividend rises by 5% to 0.91p, but the shares dipped 6% to 117.2p.

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