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Hays Q3 Group Net Fees Increase 5% On Headline Basis

Hays plc (HAS.L) reported that its group net fees for the third quarter, ended 31 March 2019 increased 5% on a headline basis and 6% on a like-for-like basis versus the prior year. The relative strength of Sterling against the Euro and Australian Dollar reduced reported net fee growth.

Australia & New Zealand reported a solid quarter with net fees up 3% (underlying 2% adjusted for Easter), against increasingly tough year-on-year growth comparatives and mixed market conditions. This represented our 19th consecutive quarter of growth.

Consultant headcount in ANZ grew 1% in the quarter and was up 5% year-on-year.

Net fee growth in the United Kingdom & Ireland was solid at 3%, led by public sector business, which represented 29% of UK&I net fees, up 14%. Net fees in private sector business, 71% of UK&I net fees, fell 1%, with market conditions remaining broadly stable.

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