Recruitment International Compliance ConferenceFebruary 2015

Recruitment International Compliance Conference | February 2015

2© 2015 Grant Thornton UK LLP. All rights reserved.

A favourable economic backdrop

2014 2015 2016 2017 2018 20190

1

2

3

4

5

6

7

8

GDP

Unem-ployment

Temporary recruitment

Permanent recruitment 5.9%

5.3%

2.3%

2.4%

An

nu

al

perc

en

tag

e c

han

ge

(%)

6.2%

3.0%

Recruitment International Compliance Conference | February 2015

3© 2015 Grant Thornton UK LLP. All rights reserved.

An active M&A landscape

UK corporate58%Private equity

28%

International corporate

14%

Multi-sector

Health

Energy &

utilities

FinancialServices

IT

Education

69recruitment deals

in 2014

69recruitment

deals in 2014

Recruitment International Compliance Conference | February 2015

4© 2015 Grant Thornton UK LLP. All rights reserved.

Trading updates and outlook

The profit for the full year is expected to be materially ahead of market expectations. However the Group remains cautious of the longer term outlook given the current volatility in global market confidence.Robert Walters, Robert Walters plc

Looking forward, the economic backdrop remains uncertain but we remain very positive about the Group's long term prospects. Mark Braund, InterQuest Group plc

As ever, activity levels at the start of the New Year will be an important driver of the Group's second half performance and, while we are mindful of the risks our world faces today, we continue to see supportive conditions in most of our markets. Alistair Cox, Hays plc

At this early point of the new financial year, while improved sentiment is clearly evident in most of our markets, it is still a somewhat mixed picture.  While we are mindful of the risks we face today, we expect to see a broadly supportive picture globally.Gary Elden, SThree plc

Recruitment International Compliance Conference | February 2015

5© 2015 Grant Thornton UK LLP. All rights reserved.

2015 compliance landscape

Compliance

landscape

Operational

Legal / contract

Tax / employment

Audit / financial reporting

Recruitment International Compliance Conference | February 2015

6© 2015 Grant Thornton UK LLP. All rights reserved.

Recruitment International Compliance Conference | February 2015

7© 2015 Grant Thornton UK LLP. All rights reserved.

How will it impact recruiters…

FRS 102

Financial instrumen

ts

Goodwill

LeasesRevenue

Intra Group Loans

Presentation of financial statements

Impact on profits