Hays payouts up

Hays dividends rocket

Hays, the UK's biggest recruitment firm, boosted its first-half dividend 28% to 1.45p a share after overseas expansion paid off and fees soared.

Net fees for the six months to December were £259.1m, 15% up on the same period last year. Hays said temporary margins were slightly ahead of last year, with pricing in the permanent market “solid”.

The results were well received in the city, with Hays shares rising to their highest since 2002.

The company opened 15 new offices in the period, including seven overseas. Branches outside the UK and Ireland now account for 29% of net fees.

Hays opened offices in Italy, Hong Kong and the United Arab Emirates. A new office in Strasbourg brings the total number of branches in France to 14. It has also expanded existing operations in Australia, Germany, France, Spain and Canada.

“The international footprint of Hays is growing,” said chairman Bob Lawson.

Eight new UK offices were opened, but the number of consultants was flat at 2,590. Net fees in accountancy and finance were 8% higher at £78m, and it opened new offices in Torquay, Southend, Macclesfield and Keighley.

Construction and property net fees edged up to £51.3m. This division opened new offices in Exeter, Hastings and Galway.

The company says it is still “successfully rolling out” Hays Purchasing & Supply, Hays Executive and Hays Sales & Marketing.

Top