12 June 2002
TRADING STATEMENT
Hays plc will announce its results for the year ended 30 June 2002 on 10
September. Prior to its close period the Company today issues the following
trading update.
Group pre-tax profit before exceptional items and goodwill amortisation is
expected overall to be in line with market expectations.
Brief details on trading for each division are given below.
PERSONNEL
Hays Personnel continues to perform well in difficult trading conditions and
results are expected to be slightly above consensus.
Temporary and permanent fees have been similar period on period since the
Interim Statement on 5 March 2002. Year on year permanent placements are down
21% against last year's peak and temporary fees are marginally lower. Operating
profit for the last three four-week periods has been stable.
COMMERCIAL
Results for Commercial are expected to be below market expectations due mainly
to a significant decline in profit within our IT Solutions business caused by
delays in the roll out of the National Management Information System for Police
Forces and lower levels of IT spend across corporate customers. This is likely
to result in an impairment to the carrying value of goodwill and assets of
approximately £50 million.
Our Mail business and the rest of our BPO businesses are trading as expected,
with the reorganisation of our Archive Storage business now progressing well.
LOGISTICS
Results for Logistics are expected to be in line with market expectations.
OUTLOOK
The economic outlook for many business sectors in Europe remains uncertain,
making it difficult to predict when our businesses will return to growth from
their current stable trading position. We will continue to invest in our
businesses to accelerate their development and position the Group for recovery.
Conference Call:
The Company will host a conference call for analysts and investors at 10:00 am
on 12 June 2002. The dial-in details are as follows:
UK dial-in number 020 8240 8242
European dial-in number: +44 20 8240 8242
Password: Hays plc
US dial-in number +1 800 513 7968
Password: Hays plc
The call will be recorded and available for playback until 24 June 2002 on the
following:
UK replay freephone number: 0500 637 880
European replay dial-in number: +44 20 8288 4459
Access code: 670492
US replay dial-in number: +1 703 736 7336
Password: 670492
Enquiries:
Bob Lawson Chairman +44 (0)1483 302203
Hays Plc
Neil McLachlan Group Finance Director +44 (0)1483 302203
Hays Plc
Jon Coles Brunswick +44 (0)20 7404 5959
END
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