LOGISTICS group Hays attempted to brush aside concerns about economic slowdown after revealing that its personnel arm had an exceptional year.

The firm warned in June that economic slowdown in a range of sectors meant full-year profits would be significantly below expectations.

But yesterday, chairman Bob Lawson said: "Hays Personnel has had an exceptional year, with significant growth in profits by 24 per cent to £146m, and also considerable expansion of its operations in continental Europe and Australia."

Overall, turnover for the year ending June 30 was £2.45bn, up from last year's figure of £2.01bn. Pre-tax profits, however, were down from £203.6m to £165.8m