Hays jumps on record net fee growth

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Hays jumps on record net fee growth
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Recruiter Hays (LON:HAS) said like-for-like net fees grew a record 15% in the quarter to 30 June, adding that it now expects operating profit for the year to be ahead of consensus expectations of around £240.9 million.

Commenting on the performance, CEO Alistair Cox struck a positive tone: “We have ended our financial year with another record quarterly net fee performance, excellent cash generation, and expect full-year operating profit to be marginally ahead of current market expectations.

“Looking ahead, conditions remain positive in virtually all of our markets. We continue to invest significantly in key growth markets where we see structural and market share opportunities, notably Germany, France and the USA. Our focus continues to be on driving profitable, cash-generative growth, leveraging the largest and most balanced global platform in our industry. That allows us to look to the future with confidence.”

Shares in Hays jumped 13.2p to 204.4p (as at 10:42 BST).

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