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Hays Q2 Net Fees Down 7% On Headline Basis

Hays plc. (HAS.L) reported that its Group net fees for the second quarter, ended 31 December 2019 decreased by 7% on a headline basis and by 4% on a like-for-like basis against the prior year.

Like-for-like net fees in Temp and Perm businesses declined by 3% and 6% respectively. Temp represented 58% of Group net fees, and Perm 42%.

Consultant headcount decreased by 1% in the quarter and by 2% year-on-year. The company expects Group headcount to be down in third-quarter FY20. During the quarter it opened one new office in Australia.

Net fees in Australia & New Zealand (ANZ) declined by 7%, versus a tough growth comparative.

Net fees fell by 9% in Germany, versus a tough growth comparative.

Net fee growth in the United Kingdom & Ireland (UK&I) decreased by 4%. Growth in Public sector business, which represented 31% of UK&I net fees, was good at 8%.

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