Resilient demand for contract workers could not fully compensate for a worldwide drop in permanent hires at Hays, the specialist recruiter, which reported first half pre-tax profits 18 per cent lower year-on-year.

Net fees from temporary placements rose 9 per cent, to £199.9m in the half to December 31, but those from permanent placements tumbled 4 per cent overall and 9 per cent on a like-for-like basis to £183.8m.