Confirming its FY results preview last month (see here), UK-headquartered, international recruitment firm Hays saw its UK business return to profit. However, CEO Alistair Cox advised that Banking and City-related recruitment remained difficult despite “early indications of recovery” across all other sectors and in all regions. The UK generated 31% of Hays’ net fee income (NFI i.e. gross profit) and is its largest single market.
Groupwide, revenues grew by 1% (2% like for like) to £3.7bn in the year to 30th June 2013, though NFI trimmed by 2% (-1% like for like) to £719m, resulting in a similar decline in operating profit, to £125.5m. EPS fell by 6% to 5.06p. Fastest NFI growth came from Hays’ operations in Continental Europe & Rest of Wolrd (+10% like for like) and worst from Asia Pacific (-13% like for like), mainly due to the mining industry downturn in Australia. For those followers of my musings on the ‘land of the samba sun’, NFI in Brazil fell by 8% in a market Cox (accurately) described as “volatile”.
While nothing in the numbers disturbed my gentle slumber, what did pique my interest was the revelation that Hays claims to be “the 31st most followed company worldwide on LinkedIn and the most followed recruiter”. I took a quick squizz at their LinkedIn page and my first impression is that it seems quite engaging if you’re in the job market. However, I’m not sure about the tenuous link to Manchester City Football Club, which “showed how the right players and top talent produce a winning team. It’s our philosophy at Hays too.” A bit cheesy for me.