Hays resists strikes and sterling
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• The combined inconveniences of the latest French lorry drivers' strike and the strength of sterling have failed to damage Hays' interim earnings.
Hays Distribution boosted its turnover by 41% to £388m, in the six months to 31 December 1997, outperforming Hays' Commercial and Personnel activities. And Distribution's operating profits grew by 23'. to 236.3m, helped by growth through acquisitions in Europe, and .despite the 22.3m negative impact of currency translation costs.
Hays is now said to be looking at a move into northern Italy—chairman Ronnie Frost complains the UK logistics industry is suffering from low margins and needs rationalisation. In the UK the company will concentrate on building niche distribution operations, like those it currently operates with BP and Shell.