LONDON (dpa-AFX) - Hays Plc (HAS.L), a British recruitment company, reported Wednesday that its net fees for the third quarter declined 11 percent from last year on a reported basis, and 9 percent on like-for-like or LFL basis.
Looking ahead, the company currently expects fiscal 2025 operating profit will be in line with consensus of 56.9 million pounds, despite ongoing uncertainties. The company expects near term market conditions to remain challenging.
In its trading update, the company said Temp & Contracting LFL net fees decreased 6 percent and volumes fell 7 percent.
Perm net fees decreased 14 percent, driven by a 19 percent decline in volumes partially offset by a 5 percent increase in Group average fee.
Net fees on LFL basis in Germany dropped 9 percent, and the decline was 13 percent in United Kingdom & Ireland, 11 percent in Australia & New Zealand, and 7 percent in Rest of World.
The company said the March net fee growth rate was minus 7 percent working day adjusted.
Regarding the outlook, Hays said the increasing macroeconomic uncertainty and the challenging near term market conditions are likely to persist into FY26. Perm markets remain difficult, notably in Germany and EMEA, due to longer time to hire but Temp & Contracting are more resilient.
Easter falls entirely in the fourth quarter, compared to last year's evenly split between third quarter and fourth quarter. The change is expected to have around 1 percent negative impact on year-on-year net fee growth in the fourth quarter.
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