Hays plc, one of the largest global staffing firms, reported net fees, or gross profit, rose 32% year over year in its fiscal third quarter ended March 31. The increase is on a like-for-like basis, which represents year-over-year organic growth on a constant currency basis. The UK-based company reported growth levels were strong across all its regions.
“Overall, 19 countries produced quarterly fee records, including our largest country of Germany, which saw strong activity levels, the USA, France and Switzerland,” Chief Executive Alistair Cox said.
Fiscal Q3 gross profit growth
| Actual | Like-for-like | |
| Australia and New Zealand | 20% | 24% |
| Germany | 27% | 32% |
| UK and Ireland | 29% | 29% |
| Rest of World | 34% | 36% |
| Total | 29% | 32% |
| Temporary | 18% | 21% |
| Permanent | 45% | 48% |
| Total | 29% | 32% |
Gross profit in Hays’ global technology business rose 35%, as did gross profit in its finance and accounting business. Hays Talent Solutions, the company’s large enterprise business, posted a record quarter with gross profit up 29%. The company said the business continues to win market share and has a strong pipeline of opportunities.
Hays’ US business, which is included in its “rest of world” category, saw gross profit rise 47% year over year while Canadian gross profit jumped 64%. In addition, gross profit in its Latin America operations rose 66%.
The “rest of world” also includes EMEA — excluding Germany, the UK and Ireland — where gross profit rose 33%. In addition, it includes Asia, where gross profit rose 27%.
Hays noted that it closed its offices in Moscow and St. Petersburg on March 3 in light of the invasion of Ukraine. Russia represented £5.9 million (US$6.7 million) in gross profit in the first half of the fiscal year, or 1% of the company’s gross profit. Hays has also started a “Hays Helps” Ukraine fund to provide aid and employability support for Ukrainian refugees across Europe.
Share price and market cap
Shares in Hays close up 0.92% to £121.00 (US$157.59) today in London; shares were 15.02% above their 52-week low, according to FT.com. The company had a market cap of £2.00 billion (US$2.61 billion).