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British recruiter Hays tops quarterly net fee forecasts on strong US, Asia growth - Finance news and analysis from Global Banking & Finance Review
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British recruiter Hays tops quarterly net fee forecasts on strong US, Asia growth

Published by Global Banking & Finance Review

Posted on October 12, 2026

2 min read

· Last updated: October 12, 2026

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Hays Outperforms Net Fee Estimates on Strong US and Asia Growth in Q1

Hays Q1 Financial Performance and Regional Highlights

Overview of Q1 Results

Oct 12 (Reuters) - British recruiter Hays posted on Monday first-quarter net fees ahead of analysts' estimates, as growth in the US and Asia cushioned weakness in Northern Europe, and said it expects market conditions to remain stable in the near term.

Net Fee Performance Details

Like-for-Like Net Fee Decline

• Hays reported a 3% like-for-like decline in net fees in the quarter ended September, compared with a decline of 4% expected by analysts in a company-compiled poll

Temporary and Permanent Placement Fees

• Temporary and contracting net fees fell 1%, while permanent placement fees dropped 7% due to continued weakness in Northern Europe, the company said

Regional Growth

US and Asia Markets

• Net fees rose 8% in the US and 6% in Asia

Northern Europe Weakness

• September net fee declined 2%, improving from the quarterly average drop of 3%

Strategic Business Moves

Exiting Selected Markets

• Hays said it is in advanced discussions to exit several of its businesses including Belgium, Brazil, Greater China, Malaysia, the Netherlands, Singapore, and the UAE

(Reporting by Nithyashree R B in Bengaluru; Editing by Sherry Jacob-Phillips)

Key Takeaways

  • Q1 net fees fell 3% like‑for‑like (better than analysts’ –4% consensus) driven by robust U.S. (+8%) and Asia (+6%) performance cushioning weaker Northern Europe.
  • Temporary/contracting net fees down 1% and permanent placement fees down 7%, underscoring resilience in temp roles versus continued pressure in permanent recruitment.
  • Hays expects market conditions to remain stable near term and is advancing discussions to exit operations in Belgium, Brazil, Greater China, Malaysia, the Netherlands, Singapore, and the UAE to sharpen strategic focus.

Frequently Asked Questions

How did Hays perform in its latest quarterly net fees?
Hays reported a 3% like-for-like decline in net fees in the first quarter, beating analysts' expectations of a 4% decline.
Which regions contributed most to Hays' growth?
Hays saw net fees rise by 8% in the US and 6% in Asia, offsetting declines in Northern Europe.
What segments of Hays' business were weakest?
Permanent placement fees dropped 7% and temporary and contracting net fees fell 1%, primarily due to continued weakness in Northern Europe.
Is Hays exiting any international markets?
Hays is in advanced discussions to exit several markets, including Belgium, Brazil, Greater China, Malaysia, the Netherlands, Singapore, and the UAE.
What does Hays expect for future market conditions?
The company expects market conditions to remain stable in the near term.

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