Business
Preliminary Report 2025
Hays PLC's preliminary report for the year ended 30 June 2025, shows net fees decreased by 11% to £972.4 million, and operating profit (before exceptional items) decreased by 56% to £45.6 million. The conversion rate dropped to 4.7% from 9.4%. Profit before tax (before exceptional items) fell by 66% to £32.2 million, and to £1.5 million after exceptional items. Cash generated by operations increased by 14% to £128.3 million, resulting in a 281% cash conversion rate. Basic earnings per share (before exceptional items) decreased by 67% to 1.31p, and to (0.49)p after exceptional items. The final dividend was reduced by 59% to 1.24p per share. The company realised £35 million in cost savings, exceeding its target, and aims for an additional £45 million in savings by FY29. Current trading in July and August was in line with expectations. Disclaimer*
About this update from Hays Plc
[{"type":"text","content":"\n\n \nPRELIMINARY\nREPORT\n \nYEAR ENDED\n30 JUNE 2025\n \n21 August 2025\n \n \n \n\n\n\n\n\n\n\n\n\n\n\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n\nDELIVERING STRATEGIC PROGRESS DESPITE CHALLENGING MARKETS\n\n\n\n\nYear ended 30 June (In £s million)\n\n\n2025\n\n\n2024\n\n\nActual\ngrowth\n\n\nLFL\ngrowth\n\n\n\n\nNet fees (1)\n\n\n972.4\n\n\n1,113.6\n\n\n(13)%\n\n\n(11)%\n\n\n\n\nOperating profit (before exceptional items) (2)\n\n\n45.6\n\n\n105.1\n\n\n(57)%\n\n\n(56)%\n\n\n\n\nConversion rate (3)\n\n\n4.7%\n\n\n9.4%\n\n\n(470) bps\n\n\n\n\n\n\n\nProfit before tax (before exceptional items) (2)\n\n\n32.2\n\n\n94.7\n\n\n(66)%\n\n\n(65)%\n\n\n\n\nProfit before tax\n\n\n1.5\n\n\n14.7\n\n\n(90)%\n\n\n(89)%\n\n\n\n\nCash generated by operations (4)\n\n\n128.3\n\n\n112.3\n\n\n14%\n\n\n\n\n\n\n\nBasic earnings per share (before exceptional items) (2)\n\n\n1.31p\n\n\n4.03p\n\n\n(67)%\n\n\n\n\n\n\n\nBasic earnings per share\n\n\n(0.49)p\n\n\n(0.31)p\n\n\n(58)%\n\n\n\n\n\n\n\nDividend per share\n\n\n1.24p\n\n\n3.00p\n\n\n(59)%\n\n\n\n\n\n\n\nNote: unless otherwise stated all growth rates discussed in this statement are LFL (like-for-like) net fees and profits, representing year-on-year (YoY) organic growth of continuing operations at constant currency.\n\n\n\n\n•\n\n\nGroup net fees decreased by 11%. Temp & Contracting, down 7%, was more resilient than Perm, down 17%. As guided at our June trading update, pre-exceptional operating profit decreased 56% YoY to £45.6 million\n\n\n\n\n•\n\n\nStrategic progress despite challenging markets. Driven by improved resource allocation, consultant net fee productivity increased by 5% YoY, net fees within Enterprise Solutions grew by 8%, and Temp & Contracting net fees grew strongly in several of our Focus countries\n\n\n\n\n•\n\n\nDelivering efficiencies through focus on costs driven by c.£35 million per annum structural cost savings realised in FY25, ahead of target. Targeting further c.£45 million per annum structural cost savings by FY29\n\n\n\n\n•\n\n\nStrong cash flow with 281% cash conversion and net cash of £37.0 million. Revolving credit facility refinanced and full buy-in of defined benefit pension scheme will have a materially positive impact...