If there was any doubt about the UK recovery story at Hays (HAS), the recruiter's bullish third-quarter trading update removed it. UK net fee income for permanent roles - generally the last bit of the cyclical staffing market to recover - surged 25 per cent. Finance director Paul Venables described the performance as "quite stunning" and a sign of "real recovery in the UK jobs market". This, together with strong performances in Germany and Asia Pacific, and a stabilising Australian job market, means Hays now expects full-year operating profit expected to be at the top end of City expectations.
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