British recruiter Hays tops quarterly net fee forecasts on strong US, Asia growth
British recruiter Hays tops quarterly net fee forecasts on strong US, Asia growth Oct 12 (Reuters) - British recruiter Hays HAYS.L posted on Monday first-quarter net fees ahead of analysts' estimates, as growth in the US and Asia cushioned weakness in Northern Europe, and said it expects market conditions to remain stable in the near term.
Hays reported a 3% like-for-like decline in net fees in the quarter ended September, compared with a decline of 4% expected by analysts in a company-compiled poll
Temporary and contracting net fees fell 1%, while permanent placement fees dropped 7% due to continued weakness in Northern Europe, the company said
Net fees rose 8% in the US and 6% in Asia
September net fee declined 2%, improving from the quarterly average drop of 3%
Hays said it is in advanced discussions to exit several of its businesses including Belgium, Brazil, Greater China, Malaysia, the Netherlands, Singapore, and the UAE
(Reporting by Nithyashree R B in Bengaluru; Editing by Sherry Jacob-Phillips)
((NithyashreeRB@thomsonreuters.com))