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Hays plc ( (GB:HAS) ) just unveiled an update.
Hays plc reported a challenging first half of the fiscal year ending December 2024, with a significant decline in net fees and operating profit due to tough market conditions. Despite a decrease in net fees by 13% and a 56% decline in operating profit, the company made strategic progress through improved resource allocation and a 4% increase in consultant fee productivity. The company achieved £25 million in annual structural cost savings through operational restructuring, although it incurred a £9.9 million exceptional charge due to these actions. The company also refinanced its revolving credit facility and completed a full buy-in of its defined benefit pension, which is expected to enhance free cash flow from FY26. The Board proposed an unchanged interim dividend of 0.95 pence per share.
More about Hays plc
Hays plc is a global recruitment company with approximately 10,300 employees operating in 225 offices across 33 countries. It specializes in professional and skilled recruitment across 21 specialisms, with technology, accountancy & finance, engineering, and construction & property being the largest sectors. The company generates 62% of its net fees from temporary placements and 38% from permanent placements, with international business accounting for 80% of the Group’s net fees.
YTD Price Performance: -9.09%
Average Trading Volume: 3,528,197
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £1.19B
For an in-depth examination of HAS stock, go to TipRanks’ Stock Analysis page.
