Hays PLC (HAS.LN) said Tuesday that net fees in the second quarter of fiscal 2019 grew 8%, but the company added that it expects foreign-exchange movements to negatively affect its operating profit for the full year.
The recruitment company said net fees grew 8% on an actual basis--or 9% on a like-for-like basis--in the three months ended Dec. 31, helped in part by 15% actual and like-for-like growth in Germany, its largest market.
Hays said its U.K. and Ireland business produced a solid performance, with actual and like-for-like growth of 3%, despite continued economic uncertainty.
Exchange-rate movements are a material sensitivity for Hays' reported profitability, the company said. Hays said that given foreign-exchange movements, it currently expects its operating profit to take a 1 million-pound ($1.3 million) hit in fiscal 2019.
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