Hays PLC
22 December 2004
22 December 2004
HAYS PLC TRADING UPDATE
Hays plc, the Specialist Recruitment Company, will announce its interim results
on 1 March 2005 and today issues the following trading update for the six months
ending 31 December 2004.
The Specialist Recruitment business has continued to generate good growth since
the announcement of its preliminary results in September. Each of the Company's
three regions of United Kingdom & Ireland, Continental Europe and Australia &
New Zealand have contributed to growth, as have each of the principal
activities. Net fees from both temporary and permanent placements grew and the
business has continued to invest strongly in additional recruitment consultants
and offices.
The rate of net fee growth for the first half is expected to be approximately
18% on a like-for-like basis compared to the same period last year and the rate
of conversion into operating profit is also expected to improve. After a period
of sustained growth since January 2004, prior year comparatives will now be
tougher to exceed. The performance for the year to 30 June 2005 continues to be
in line with the Board's expectations.
In September, Hays plc announced its intention to buy back at least £200 million
of its own shares on the open market. The programme commenced on 5 November and
to date the Company has bought back 24.1 million of its shares at a total cost
of £29.3 million.
Hays plc intends to enter into an irrevocable non-discretionary arrangement to
enable the repurchase of its own shares during its close period that commences
on 1 January 2005. Any share purchases will be effected within certain pre-set
parameters, and in accordance with both the Company's general authority to
repurchase shares and Chapter 15 of the Listing Rules.
- 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 will conduct a conference call for investors and analysts at 9.00am
UK time on Wednesday 22 December. 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
Access code: 2397723 #
This information is provided by RNS
The company news service from the London Stock Exchange
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