Hays has reported a 14% drop in net fees in results for the year ended 30 June 2024, down to £1.11bn from £1.29bn a year earlier. As a result, the recruitment company saw its full-year pretax profit plunge by 92% to £14.7m from £192.1m. Looking ahead, the FTSE 250-listed firm said that near-term conditions remain challenging but in line with its expectations. Hays maintained its core dividend at 3.00p. Hays shares shed 2.9% in early trading.
JD Sports posted a rise in sales growth in a second-quarter trading update, boosted by double-digit organic increases in North America and Europe. The high street retailer saw its like-for-like sales lift by 2.4% in the 13 weeks to 3 August 2024, improving from a fall of 0.7% in the first quarter. Overall sales growth on an organic basis in the second quarter was 8.3%, with North America sales up 14%, and Europe and Asia Pacific up 11%. UK organic sales growth lagged at just 1.2%. For the first half of the financial year, JD Sports’ like-for-like sales rose 0.7% with organic growth of 6.4%. In response, shares in JD Sports were up 3.4% around 9am.
Eckoh has revealed a tentative takeover offer from an unnamed private equity investor, as part of a sale process that the AIM-listed technology firm said it launched back in March. The secure payment and customer contact products provider noted that the proposed price of 54p per share does not represent a large premium to its current share price. The company also said the offer from the private equity investor is highly conditional, non-binding, and indicative, adding that there is no certainty a formal offer will be made. Eckoh shares were up 2.1% by around 9am, giving the company a market cap of £144.6m, however, the stock has jumped 39% since March.
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