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Hays posts increase in its earnings

RECRUITMENT firm Hays has posted a sharp increase in earnings from its UK and Ireland business as demand for construction and IT jobs helped it boost fees amid improved economic conditions.

Operating profits for the region rose 368 per cent to £26.2 million for the year to June 30, while overall group pre-tax profits increased 12 per cent to £132.3m.

It marks a large recovery for the UK and Ireland operation two years after it slumped to a loss amid turmoil in the banking sector and worsening economic conditions.

The latest annual results showed fees from the banking sector in the home market remained subdued, falling three per cent.

But overall for the region net fees grew 11 per cent, with construction and property delivering growth of 21 per cent, IT rising 15 per cent, and accountancy and finance up 11 per cent.

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