viewHays PLC

Hays stays in profit but says material recovery needs net fees to rise

In the quarter to September 30, total net fees slowed down by 29%

Hays PLC - Hays expects modest half-year profits but material recovery needs net fees uplift

Hays PLC (LON:HAS) said it expects trading in the first half of 2021 to be “modestly profitable”.

The recruiter added that any material recovery in profitability in the second half of the year will require a significant sequential uplift in net fees, and there being no prolonged lockdowns in its key markets.

READ: Hays drops dividend as recruitment markets remain tough

In the first quarter, ended September 30, total net fees slowed down by 29%, with temporary work down 25% and permanent down 35%.

Australia & New Zealand and Rest of World were the most defensive regions, dropping by 26% and 27% respectively, while Germany and UK & Ireland tumbled by 31% and 34%.

Net cash at period-end was £350mln.

Shares dipped 2% to 112.9p on Thursday morning.

--Adds shares--

Quick facts: Hays PLC

Price: 113.8 GBX

Market: LSE
Market Cap: £1.91 billion

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...


Touchstone Exploration presents at the One2One Proactive virtual conference

Touchstone Exploration's (LON:TXP) Paul Baay pitches to investors at the Proactive One2One virtual conference. Touchstone Exploration Inc. is a Canadian-based, international upstream oil and gas company currently active in the Republic of Trinidad and Tobago. It is one of the largest...

1 day, 7 hours ago

2 min read