Hays PLC

HAS

Equity

ISIN GB0004161021 / Valor 387881

LSE London Stock Exchange, SETS (2024-12-23)

GBP 0.79+0.70%

Hays PLC
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About company

Hays PLC is a leading recruitment company specializing in Temporary, Contracting, and Permanent placements across 21 specialist areas of skilled employment. With a focus on both Private and Public sector clients, the company offers high volume, high service outsourcing contracts to large organizations worldwide, as well as one-off placements for SMEs. Hays PLC holds market-leading positions in long-term growth markets like Technology and Engineering globally, as well as in more mature markets such as the UK and Australia. Additionally, the company sees significant growth potential in serving large Enterprise clients globally with related talent services.

Summarized from source with an LLMView SourceSector: Business Services

Q4 FY24 Revenue Decline

Hays PLC reported a 15% decline in group fees for the fourth quarter of fiscal year 2024 compared to the same period in the previous year. The company noted a particularly challenging June, with an exit rate of minus 18%.

Operating Profit Outlook

Despite the difficult quarter, Hays PLC expects its pre-exceptional operating profit for FY24 to be around £105 million, which is at the lower end of the market consensus range. This forecast is attributed to the company's cost-saving measures.

Regional Performance

In Q4 FY24, Hays PLC saw a 17% decline in fees in both Germany and the UK & Ireland. Australia & New Zealand experienced a 22% drop, while the Rest of the World region saw an 11% decrease in fees.

Segment Performance

Hays PLC's temporary segment fees fell by 12%, while the permanent segment saw a more significant decline of 20% in Q4 FY24. The company attributed these declines to ongoing client cost controls and a challenging market environment.

Cost Savings and Headcount Reduction

Hays PLC reduced its group headcount by 4% during the quarter and 15% year-over-year. The company now expects to achieve approximately £60 million in annualized savings by the end of FY24, an increase from the previous estimate of £50 million.

Summarized from source with an LLMView Source

Key figures

-28.3%1Y

-45.7%3Y

-56.3%5Y

Performance

25.1%1Y

28.1%3Y

33.1%5Y

Volatility