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Prices & Quotes - UK Markets - Hays (HAS)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Up 113.80p
Change Today:
0.40p
Market Cap:
1,911.50m
Sector:
Support Services

Hays scraps dividend as Covid hits FY profits

By Frank Prenesti

Date: Thursday 27 Aug 2020

LONDON (ShareCast) - (Sharecast News) - Recruitment firm Hays scrapped its final dividend as the coronavirus pandemic hit full-year profits, although it reported a slight pickup as lockdown restrictions were eased.
Annual pre-tax profit fell 63% to 86.3m as net fees came in 12% lower to 996.2m.

Growth slowed through the first half, with fees down 2%, while the second half was heavily impacted by Covid-19, with the fourth quarter down 34%.

Hays said the macroeconomic backdrop deteriorated through the first half of the year, impacted by weaker conditions in many of its main markets and a slowdown in activity in Germany, especially in the automotive sector.

It added that the UK General Election, bushfires in Australia and general strikes in France further negatively impacted fees in the second quarter.

"In the second half, our markets were severely impacted by the unprecedented effects of the Covid-19 pandemic. The severity of each country's lockdown arrangements directly influenced our fee performance, with Australia and the USA less impacted than most European markets," it said.

Hays biggest market, Germany, reported a 13% fall in fees and 41% slump in operating profit.

"Given macroeconomic uncertainty caused by the pandemic, and the fact we traded only at a broadly breakeven level of profitability in Q4, the Board is not proposing a final dividend for full year 2020," the company said.

Chief executive Alistair Cox said: "Although many uncertainties remain, group fees have been stable since May and we see modest signs of improvement in Perm."

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Hays Market Data

Currency UK Pounds
Price 113.80p
Change Today 0.40p
52 Week High 183.50p
52 Week Low 92.00p
Volume 1,735,762
Shares Issued 1,679.71m
Market Cap 1,911.50m

Performance Indicators

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What The Brokers Say

Strong Buy 5
Buy 0
Neutral 7
Sell 0
Strong Sell 0
Total 12
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Hays Dividends

  Latest Previous
  Final Special
Ex-Div 03-Oct-19 03-Oct-19
Paid 15-Nov-19 15-Nov-19
Amount 2.86p 5.43p

Trades for 23-Oct-2020

Time Volume / Share Price
16:50 3,049 @ 113.90p
16:50 2,473 @ 113.90p
16:50 2,793 @ 113.90p
16:50 676 @ 113.90p
16:50 2,566 @ 113.90p

Hays Key Personnel

CEO Alistair R Cox