London · Delayed Price · Currency is GBP · Price in GBX Hays plc Earnings Call Transcripts
Fiscal Year 2026
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Group net fees declined 8% year-over-year, but strong consultant productivity and cost discipline offset lower fees. Temp and contracting showed resilience, while perm remained challenging. Strategic exits and investments in high-growth markets like Japan and Spain supported performance.
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Net fees declined 9% year-over-year, but cost discipline and strategic focus led to improved profits in key regions. Cash conversion remained strong, and digital transformation initiatives are driving productivity gains. Outlook for H2 is for improved profitability as cost actions continue.
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Group net fees fell 10% year-on-year in Q2 2026, but cost savings and productivity gains offset much of the impact, keeping H1 pre-exceptional operating profit at GBP 20 million. Germany and France remain challenging, while Southern Europe and ANZ show resilience.
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Group net fees fell 8% year-on-year, with stable operating profit and strong consultant productivity gains. Cost savings and headcount reductions supported profitability in UK&I and ANZ, while challenging conditions persisted in France and public sector markets.
Fiscal Year 2025
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Net fees declined 11% and operating profit fell 56% amid challenging global recruitment markets, but strong cost discipline led to GBP 65 million in annual savings and improved productivity. The business remains resilient in temp and contracting, with enterprise solutions growing 8%.
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Q4 net fees are expected to decline 9% year-on-year, mainly due to global perm hiring weakness, while temp and contracting remain more resilient. FY 2025 pre-exceptional operating profit is forecast at £45 million, with ongoing cost-saving initiatives and a modest net cash position expected at year-end.
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Group net fees fell 9% year-over-year, with perm down 14% and temp/contracting down 6%. Cost-saving initiatives and productivity gains supported profit, but challenging markets are expected to persist into FY 2026. Exceptional restructuring charges are anticipated in H2.
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Net fees fell 13% and operating profit dropped 56% year-on-year amid tough markets, but strong cost savings, productivity gains, and a resilient temp/contracting business supported cash flow and market share gains. Structural changes position the group for profit leverage in recovery.
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Net fees declined 12% year-on-year, with Perm markets especially weak in Europe and Temp and Contracting showing more resilience. Enterprise business grew 12%, driven by MSP contracts and new client wins, while cost-saving initiatives reduced the cost base. Headcount remains stable, with selective increases in growth markets.
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Net fees declined 14% year-over-year, with temp and perm both down amid subdued market confidence. Cost-saving initiatives and productivity improvements partially offset headwinds, while cash position was impacted by seasonal outflows and exceptionals.
Fiscal Year 2024
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FY24 saw a 12% drop in fees and a 43% decline in operating profit amid tough markets, with decisive cost actions and restructuring delivering £30m in annual savings. Cash conversion remained strong, and the outlook anticipates further efficiencies and recovery as confidence returns.
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Net fees declined 15% year-over-year in Q4 2024 amid challenging markets and prolonged hiring cycles, but cost actions delivered GBP 60 million in annualized savings. Outlook remains cautious, with subdued trading expected and no special dividend planned as net cash stands at GBP 55 million.