Business
Half Yearly Report
Half Yearly Report.
About this update from Hays Plc
[{"type":"text","content":"\n \nRNS Number : 9281P Hays PLC 24 February 2016 \n\nHALF YEAR REPORT\nSIX MONTHS ENDED \n31 DECEMBER 2015\n \n24 February 2016\n \n \n \nCONTINUED STRONG OPERATING LEVERAGE DRIVES 15%(1) PROFIT GROWTH FROM GOOD 8%(1) NET FEE GROWTH\n\n\n\n\nSix months ended 31 December\n(In £'s million)\n\n\n2015\n\n\n2014\n\n\nActual\ngrowth\n\n\nLFL(1)\ngrowth\n\n\n\n\nNet fees \n\n\n396.9\n\n\n383.9\n\n\n3%\n\n\n8%\n\n\n\n\nOperating profit \n\n\n86.3\n\n\n81.5\n\n\n6%\n\n\n15%\n\n\n\n\nConversion rate\n\n\n21.7%\n\n\n21.2%\n\n\n50bps\n\n\n \n\n\n\n\nCash generated by operations\n\n\n33.9\n\n\n78.5\n\n\n(57)%\n\n\n \n\n\n\n\nProfit before tax\n\n\n82.4\n\n\n77.3\n\n\n7%\n\n\n \n\n\n\n\nBasic earnings per share\n\n\n3.99p\n\n\n3.64p\n\n\n10%\n\n\n \n\n\n\n\nDividend per share\n\n\n0.91p\n\n\n0.87p\n\n\n5%\n\n\n \n\n\n\n\n \nHighlights\n· Strong 15%(1) operating profit growth, with a 40%(1) drop-through of incremental net fees into operating profit\n· Strong, broad-based 14%(1) net fee growth in Continental Europe & Rest of World; operating profit up 17%(1)\n- Strong net fee growth of 12%(1) in Germany and 14%(1) in France \n- 15 further countries delivered net fee growth of over 10%(1), including Poland, Spain and Switzerland\n- Excellent profit growth of £3.6m(1) in the Division outside of Germany\n· UK & Ireland net fee growth of 3%(1); private sector up 4%(1), public sector up 1%(1)\n- Operating profit up 20%(1) to £25.3m with 93%(1) drop-through of incremental net fees into operating profit\n- Markets overall were sequentially stable through the half. We saw low growth in the private sector, and public sector markets became increasingly challenging as the half progressed \n· Solid Asia Pacific net fee growth of 4%(1), with operating profit up 6%(1)\n- Australia net fees up 3%(1) driven by Perm up 7%(1), as conditions remained mixed, though sequentially stable overall\n- Asia net fees grew 7%(1), driven by all-time records in Japan, up 8%(1) and China, up 16%(1) \n· Consultant headcount was up 10% year-on-year(5) as we invested where markets and outlook were...