LONDON (dpa-AFX) - Hays Plc (HAS.L), a British recruitment company, on Friday recorded a 15 percent year-on-year decline in net fees for the first quarter.
The results had the impact of appreciation of sterling against euro.
The Group also posted a decline in fees by 14 percent on a like-for-like or LFL basis, from the prior year.
Hays' September fee exit rate was in line with the quarter overall, impacted by the continued challenging conditions in its major markets.
Dirk Hahn, Chief Executive of Hays, said: 'Net fees in the quarter were down as expected reflecting the tough market conditions, particularly in Perm where we see longer time to hire and low levels of confidence which we expect to continue.'
Looking ahead, the Group expects near-term market conditions to remain challenging. Further, it noted that it continues to expect pre-exceptional operating profit for the first half of 2024 to be sequentially lower than the second half of 2024.
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