Hays PLC
17 June 2004
17 June 2004
HAYS PLC TRADING UPDATE
Hays plc will announce its preliminary results for the year ending 30 June on 7
September 2004 and today issues the following trading update.
Group pre-tax profit before exceptional items and goodwill amortisation for the
year to 30 June remains in line with the Board's expectations.
The Specialist Recruitment business has continued to grow since the announcement
of our interim results in March. The rate of growth has improved, and the
business has generated like for like net fee growth of 10-11% in the second half
to date, compared to the same period last year. All of the major businesses, and
each of the three regions of the UK and Ireland, Continental Europe and
Australia & New Zealand have contributed to growth. Both temporary and permanent
placement fees are ahead of the same period last year, with permanent placement
fees growing slightly more strongly. There has been no significant change in the
rate of conversion of net fees into operating profit compared to the same period
last year.
There has been no significant change in the performance of DX since the
announcement of our intention to demerge the business on 3 June 2004.
The Group's net investment in Albion Group Ltd, which principally comprises a
vendor loan, stood at £44.5m at 31 December 2003. Interest payments on the loan
have been suspended and the Group will consider whether any impairment provision
is required against it.
The disposal of surplus logistics properties is now substantially complete and
net proceeds will be ahead of the estimate provided in the circular to
shareholders on 28 November 2003.
- ends -
Enquiries:
John Martin Finance Director, Hays plc + 44 (0) 20 7628 9999
Jon Coles Brunswick + 44 (0) 20 7404 5959
Conference call:
John Martin and Nick White of Hays plc will conduct a conference call for
analysts and investors at 9.00am UK time on 17 June 2004. The dial in details
are as follows:
Dial-in number: + 44 (0) 1452 561 263
The call will be recorded and available for playback for 7 days as follows:
Replay dial-in number: + 44 (0) 1452 550 000
Pin: 1518765 #
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