Hays recruiter’s quarterly fee jumps on global hiring boom

July 14 (Reuters) – British recruitment agency Hays Plc (HAYS.L) on Thursday reported a 23% rise in net fees in the fourth quarter, fueled by increased hiring across all markets as businesses ramp up rush to fill vacancies.

The recruiting industry is seeing steady demand for hiring after pandemic lows. Hays – London’s largest listed recruiter which mainly hires for white-collar jobs – is benefiting from the rise.

“Fees and activity remained stable at high levels throughout the quarter, driven by strong client and candidate confidence,” chief executive Alistair Cox said in a statement.

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However, a halt in hiring at cash-strapped businesses due to soaring inflation could trigger a slowdown in demand for additional employees.

The company expects its operating profit for the full year to be 210 million pounds ($248.75 million), up from a previous forecast of 210 to 215 million pounds.

Rival PageGroup Plc (PAGE.L) posted higher quarterly gross profit on Wednesday, but remained cautious about the weather ahead as fears of a recession loom, forecasting weak profit for the full year. Read more

($1 = 0.8442 pounds)

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Reporting by Eva Mathews and Amna Karimi in Bengaluru; Editing by Sherry Jacob-Phillips

Our standards: The Thomson Reuters Trust Principles.


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