Profit boost leads Hays' EU expansion
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• Hays signalled its intention to go for distribution growth on the Continent last week when it posted half-year results with profits up by a third.
The distribution, personnel and commercial services group said it is searching for a Spanish company to expand its cross-border distribution capabilities, And it is putting a team together to look at general prospects on mainland Europe.
About 20% of Hays' total profits came from the rest of the European Union in the last six months of 1993, with that sec don contributing around a fifth of the revenue, Most of the business came from distribution companies Fril in France and Mordhorst in Germany, which was bought in June 1993.
For distribution as a whole, operating profit for the period increased by 34% to £23.4m accounting for around half the group's total operating profit.
In the commercial section, Britdoc, which expresses documents for city professions, "continued to storm away" while parcels company Data Express maintained a "flat" performance.