Hays PLC (LSE:HAS) reported record profit growth of 128%, proposed a special dividend of £121.2mln and said it is confident it will “navigate current uncertainties”.
The recruitment group also revealed fees for the year ended June jumped 32%, including 24 country records, driven by strong client and candidate confidence, management actions and continued improved fee margins.
“Performance in all regions was excellent,” Alistair Cox, chief executive, said. “Our actions to capitalise on long-term structural opportunities, acute skill shortages and strong markets, supported by our ability to increase fee margins and the benefits of wage inflation, delivered record group fees, 24 country records and 128% operating profit growth.
“In addition to our FY22 core dividend of £47.3mln, given the board's confidence in our strategy and commitment to returning significant cash to shareholders, we propose a special dividend of £121.2mln.
“The board has also increased our share buyback programme by a further £18.2mln, meaning we began FY23 with £75.0mln available for buybacks.
“With macroeconomic uncertainties increasing … our focus is now on leveraging the investments we have made and increasing our already strong consultant productivity.”
Operating profit for the period jumped 128% to £210.1mln, driven by an 152% jump in operating profit in its biggest market Germany.
Core dividend per share was 134% higher at 2.85p, with the company declaring a special dividend of 7.34p a share, slightly down from 8.93p a year ago.
The stock was trading 3.31% higher at 118.60p in London.