21st Feb 2019 08:32
LONDON (Alliance News) - Recruitment firm Hays PLC hiked its interim dividend Thursday after profit and revenue both rose as "supportive" markets boosted fee performance.
For the six months ended December, pretax profit widened 7.6% to GBP122.6 million from GBP113.9 million a year prior. This was after revenue rose 7.4% to GBP3.04 billion from GBP2.83 billion a year before.
"We have delivered another good first half, and despite increasingly tough comparatives are pleased to report 9% net fee and profit growth. Conditions were supportive in most of our markets, with 20 of our 33 countries delivering record net fees," Hays Chief Executive Officer Alistair Cox said.
For the period, net fees rose 8.0% to GBP568.0 million from GBP525.8 million the year prior - up 9% on a like-for-like basis - with strong results from Germany as well as the Asia & the Americas and Australia & New Zealand regions. In its largest UK & Ireland division, net fee growth was described as "solid".
"Our group growth is testament to the strength of our diversified global portfolio and our leading positions in key structural growth markets," Cox added.
Hays proposed an interim dividend of 1.11 pence per share, up 4.7% from 1.06p the year prior.
"Looking ahead, although we remain mindful of continuing macroeconomic uncertainty, the outlook in the vast majority of our markets remains positive," Cox continued. "Our second half focus will be on driving consultant productivity, while selectively investing in our key markets to build on our existing scale, balance and diversity. Our financial strength and highly experienced management teams stand us in good stead for the future."
Shares in Hays were 6.5% lower at 147.90 pence on Thursday.
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