HAYS PLC
13 September 1999
PRELIMINARY RESULTS FOR THE YEAR TO 30 JUNE 1999
Hays plc today announced preliminary results for the year to 30 June 1999.
The salient features are:
* Turnover up 21 per cent to £1.9 billion.
* Profit before tax up 17 per cent to £236 million before goodwill
amortisation and exceptional items.
* Earnings per share up 17 per cent to 19.84p before goodwill amortisation
and exceptional items.
* Dividend per share up 15 per cent to 6.15p.
* £220 million invested in acquisitions and capital expenditure.
* Over £66 million cash generated after all outgoings other than acquisitions
(1998 - £53 million).
* Interest covered 24 times by operating profit.
Ronnie Frost, Chairman, commented:
'We have continued to win new contracts across all three core activities in
both the public and private sectors. Many of our major customers are now
served on a cross-border basis.
In addition to significant organic growth in both sales and profit, we
invested £132m in acquisitions during the year, with a further £33m provided
for deferred payments. We have been particularly pleased to develop further
the Commercial and Personnel core activities on the continent of Europe. Our
Distribution core activity continues to expand in its established markets and
has made good progress in Italy, Spain and Poland.
A new Commercial business has been created through a number of recent
acquisitions. Known as Hays Business Process Support this business offers a
range of outsourced solutions to handle high volume office processes and has
the potential for substantial organic growth.
We face the new financial year with confidence'.
For further information please contact:
Ronnie Frost Hays plc, Chairman 01483 302203
Graham Williams Hays plc, Executive 01483 302203
Director
Andrew Grant Brunswick Group Limited 0171 404 5959
Corinne Daniels
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