Hays Plc · LSE:HAS
Hays — FY2017 Earnings Presentation
64 slides from Hays's earnings presentation, Aug 30, 2017
Slide 1: Preliminary Results: Year ended 30 June 2017
PRELIMINARY RESULTS Year ended 30 June 2017
Slide 2: Cautionary Statement
CAUTIONARY STATEMENT This presentation contains certain statements that are neither reported financial results nor other historical information. The information contained in this presentation is not audited, is for personal use and informational purposes only and is not intended for distribution to,
Slide 3: Agenda
AGENDA 1 OPERATING REVIEW ALISTAIR COX, CHIEF EXECUTIVE 2 FINANCIAL REVIEW PAUL VENABLES, FINANCE DIRECTOR 3 CURRENT TRADING PAUL VENABLES, FINANCE DIRECTOR 4 STRATEGY UPDATE ALISTAIR COX, CHIEF EXECUTIVE 5 APPENDICES 3
Slide 4: 1. Operating Review
1. OPERATING REVIEW ALISTAIR COX CHIEF EXECUTIVE
Slide 5: 2017 has been a milestone year with record international financial performance & first special dividend
2017 HAS BEEN A MILESTONE YEAR WITH RECORD INTERNATIONAL FINANCIAL PERFORMANCE & FIRST SPECIAL DIVIDEND Our focus remains on… We have delivered… Profits above £200m for the first time since 2008, at £211.5m Maximising financial performance All time record levels of International net fees and profits
Slide 6: APAC
Headline APAC net fees FY 10 15 £146m £179m FY 11 16 £210m £176m ACCELERATION OF GROWTH IN AUSTRALIA; FY 17 £231m £242m ASIA MIXED BUT STABLE OVERALL Australia & NZ (net fees: £180.7m; operating profit: £62.8m) APAC Further strong net fee growth +11%*, with Temp (66% of net 55% fees) +13%* and Perm
Slide 7: CE&RoW
Headline CE&RoW net fees FY 1510£314m £168m £133m FY 1611 £220m£134m £363m RECORD PERFORMANCE IN GERMANY, STRONG FY 17 H1 13 £140m £471m £267m BROAD-BASED GROWTH IN REST OF THE DIVISION Germany (net fees: £230.3m) CE&RoW Record net fees and operating profits. Net fee growth of 14%*, 62% operating pr
Slide 8: UK & Ireland
Headline UK&I net fees 10 FY 15 £272m £244m 11FY 16 £272m £242m TOUGH BUT SEQUENTIALLY STABLE; EXITING THE YEAR 12FY 17 £253m £225m WITH MODEST SIGNS OF IMPROVEMENT IN PRIVATE SECTOR Net fees down 7%* in challenging trading conditions UK & IRELAND Temp net fees down 8%*, Perm down 6%* 56% Temp UK re
Slide 9: 2018 Aspirations: we remain on track after 4 years
2018 ASPIRATIONS: WE REMAIN ON TRACK AFTER 4 YEARS UK & Ireland (£m) Operating Profit* Australia & NZ (£m) Operating Profit* FY 2013 6 FY 2013 64 FY 2017 42 FY 2017 63 FY18 OBJECTIVE 45 60 75 FY18 ORIGINAL FX 60 70 80 ASSUMED 5YR NET FEE CAGR: +5% to +9% ASSUMED 5YR NET FEE CAGR: +1% to +5% Germany
Slide 10: 2. Financial Review
2. FINANCIAL REVIEW PAUL VENABLES GROUP FINANCE DIRECTOR
Slide 11: Good overall Group financial performance
GOOD OVERALL GROUP FINANCIAL PERFORMANCE Net fees Operating profit** Basic earnings per share FY 13 £719.0m FY 13 £125.5m FY 13 5.14p FY 14 £724.9m FY 14 £140.3m FY 14 6.13p FY 15 £764.2m FY 15 £164.1m FY 15 7.44p FY 16 £810.3m FY 16 £181.0m FY 16 8.48p FY 17 £954.6m FY 17 £211.5m FY 17 9.66p Net fe
Slide 12: Good Group financial performance
GOOD GROUP FINANCIAL PERFORMANCE Income statement** Year ended 30 June 2017 2016 Actual LFL* £m £m growth growth Turnover 5,081.0 4,231.4 20% 8% Net fees 954.6 810.3 18% 6% Operating profit 211.5 181.0 17% 1% Net finance cost (6.9) (8.0) Profit before tax 204.6 173.0 18% Tax (65.5) (51.9) Profit aft
Slide 13: Operating profit over £200m for the first time since 2008
OPERATING PROFIT OVER £200M FOR THE FIRST TIME SINCE 2008: DRIVEN BY EXCHANGE RATE GAINS AND INTERNATIONAL PROFIT GROWTH £’m INTERNATIONAL 250 PROFIT GROWTH £6.6m £6.1m £(11.1)m £211.5m £28.9m £181.0m 150 FY16 FY17 FX IMPACT APAC CEROW UK&I EBIT EBIT INTERNATIONAL PROFIT GROWTH MORE THAN OFFSETS UK
Slide 14: Strong growth in international business offsets UK decline
STRONG GROWTH IN INTERNATIONAL BUSINESS OFFSETS UK DECLINE Performance by region 24% 49% 27% of net of net of net fees fees fees Asia Pacific Continental Europe & RoW United Kingdom & Ireland Net Fees £230.9m 9%* Net Fees £470.8m 12%* Net Fees £252.9m (7)%* Op Profit £69.3m 10%* Op Profit £100.7m 7%
Slide 15: Good growth in Temp fees, solid in Perm
Split of net fees FY 15 58% Temp FY 16 49% Temp 58% Temp GOOD GROWTH IN TEMP FEES, SOLID IN PERM 52% Temp FY 17 59% Temp Review of Group Permanent and Temporary Businesses* Permanent placement business Temporary placement business 4% net fee growth 7% net fee growth 4% volume increase 8% volume incr
Slide 16: Australian dollar and Euro remain significant FX translation sensitivities
THE AUSTRALIAN DOLLAR AND EURO REMAIN SIGNIFICANT FX TRANSLATION SENSITIVITIES FOR THE GROUP Key FX rates and sensitivities Year ended 30 June 2017 Average Closing Australian $ 1.6836 1.6952 Euro € 1.1642 1.1406 Impact of a one cent change per annum Net fees Op profit Australian $ +/- £1.0m +/- £0.4
Slide 17: We have maintained our sector-leading conversion rate
WE HAVE MAINTAINED OUR SECTOR-LEADING CONVERSION RATE* Conversion Rate* FY17 FY16 OVERALL GROUP CONVERSION RATE BROADLY FLAT AT 22.2% APAC 30.0% 28.5% CE&RoW 21.4% 21.7% INCREASE IN APAC DRIVEN BY ACCELERATING GROWTH AND STRONG UK&I 16.4% 19.2% LEVERAGE IN AUSTRALIA GROUP 22.2% 22.3% MODEST DECLINE
Slide 18: Increase in ETR to 32.0% driven by higher international profits
INCREASE IN ‘ETR’ TO 32.0% DRIVEN BY HIGHER INTERNATIONAL PROFITS VERSUS LOWER UK PROFITS Finance charge and taxation Year ended 30 June 2017 2016 £m £m Finance charge Net interest charge on debt (2.1) (2.9) Interest unwind of discount on Acquisition Liability (non-cash) (1.1) (0.9) IAS 19 pension c
Slide 19: 14% increase in earnings per share
Basic EPS H1 FY3.25p** 10 12 15 7.72p 7.44p H2 12 11 16 FY 5.19p 5.19p** 8.48p 14% INCREASE IN EARNINGS PER SHARE 12 H1 17 FY 13 5.47p 9.66p Basic earnings per share (EPS) Year ended 30 June 2017 2016 Change Basic earnings £139.1m £121.1m 15% Weighted average number of shares* 1,440.7m 1,428.4m Basi
Slide 20: Strong underlying cash performance
Cash from operations £78.1m £189.8m FY 15 FY 16 £97.3m £159.3m STRONG UNDERLYING CASH PERFORMANCE FY13 H1 17 £217.0m £162.2m Operating profit to free cash flow conversion Uses of cash flow Operating cash flow £217.0m (FY16: £159.3m) £33.7m Capex £21.4m £211.5m Pensions £14.8m £(28.2)m Dividend £42.6
Slide 21: Strongest balance sheet
STRONGEST BALANCE SHEET Balance sheet analysis 30 June 30 June £m 2017 2016 Goodwill & intangibles 241.9 242.0 Property, plant & equipment 24.0 19.8 NET WORKING CAPITAL Good underlying working capital management Net deferred tax 23.3 23.9 with debtor days at 39 (FY16: 37 days) Net working capital* 2
Slide 22: Further material increase in cash position
Free cash flow* FY £52.7m 15 £141.0m FY 16£62.2m £114.0m FURTHER MATERIAL INCREASE IN CASH POSITION H1 13 FY 17 £111.8m £146.9m Closing net cash/(net debt) £m 111.6 NET DEBT ELIMINATED IN FY16 FY17 ended with net cash of £111.6m 36.8 £210M BANK FACILITY IN PLACE expires April 2020 (30.7) (62.7) EBIT
Slide 23: Total dividend payout of £108.3m following first special dividend
TOTAL DIVIDEND PAYOUT OF £108.3M FOLLOWING FIRST SPECIAL DIVIDEND OF £61.6M Fund Group investment and development FREE CASH Maintain a strong balance sheet FLOW Deliver a core dividend which is sustainable, progressive and PRIORITIES appropriate CORE Target core dividend cover of 2.0x to 3.0x Group
Slide 24: Financial summary
FINANCIAL SUMMARY GOOD, BROAD-BASED NET FEE GROWTH Strong 12%* growth in CE&RoW, record net fee performance in Germany, up 14%* Australia growth accelerated to 13%*; UK (7)% but broadly stable since November ‘16 RECORD LEVELS OF INTERNATIONAL PROFIT Strong 10%* profit growth in APAC driven by excell
Slide 25: 3. Current Trading
3. CURRENT TRADING PAUL VENABLES GROUP FINANCE DIRECTOR
Slide 26: Supportive conditions in vast majority of international markets; UK remains stable
SUPPORTIVE CONDITIONS IN VAST MAJORITY OF INTERNATIONAL MARKETS; UK REMAINS STABLE Current trading conditions by region Strong activity levels in Australia across all states and most specialisms APAC Growth in Asia is good Growth remains strong overall, despite tough comparators CE & Strong growth i
Slide 27: 4. Strategy Update
4. STRATEGY UPDATE ALISTAIR COX CHIEF EXECUTIVE
Slide 28: Clear, well established strategic priorities to deliver our long-term aims
WE HAVE CLEAR, WELL ESTABLISHED STRATEGIC PRIORITIES TO DELIVER OUR LONG-TERM AIMS MATERIALLY INCREASE & DIVERSIFY GROUP PROFITS GENERATE, BUILD CRITICAL REINVEST & MASS & DIVERSITY DISTRIBUTE ACROSS OUR MEANINGFUL CASH GLOBAL PLATFORM RETURNS INVEST IN PEOPLE, TECHNOLOGY, COLLABORATIONS & INNOVATIO
Slide 29: At our Investor Day, we will demonstrate key areas of focus
AT OUR INVESTOR DAY, WE WILL DEMONSTRATE OUR KEY AREAS OF FOCUS & DETAIL OUR ASPIRATIONS FOR OUR FUTURE POTENTIAL We will specifically detail: • Our aspiration to deliver further material increases in earnings over the next 5 years • Our strategies and areas of focus to deliver those aspirations • T
Slide 30: 5. Questions & Answers
EUX - a S 5. QUESTIONS & ANSWERS a _ ARLE E a
Slide 31: 6. Appendices
6. APPENDICES
Slide 32: FY 2017 Results Supporting Information
1.0 FY 2017 RESULTS SUPPORTING INFORMATION 32
Slide 33: Further progress in CE&RoW (ex-Germany) profitability
FURTHER PROGRESS IN CE&RoW (EX-GERMANY) PROFITABILITY Operating profit split in Continental Europe & RoW – HEADLINE Year ended 30 June 2017 2016 LFL £m £m growth* Germany 80.5 63.2 9% Rest of CE&RoW (23 countries) 35.6 28.3 5% CE&RoW Central Costs (15.4) (12.8) 15% CE&RoW Operating Profit 100.7 78.7
Slide 34: Like-for-like summary
LIKE-FOR-LIKE SUMMARY Year ended 30 June 2016 FX impact Organic 2017 LFL* £m £m £m £m growth Net fees Asia Pacific 176.1 36.5 18.3 230.9 9% Continental Europe & RoW 362.5 56.1 52.2 470.8 12% United Kingdom & Ireland 271.7 1.1 (19.9) 252.9 (7%) 810.3 93.7 50.6 954.6 6% Operating profit Asia Pacific 5
Slide 35: H2 FY17 v H1 FY17: Analysis by division
H2 FY17 v H1 FY17: ANALYSIS BY DIVISION Net fee growth (LFL*) Q1 17 Q2 17 H1 17 Q3 17 Q4 17 H2 17 FY 17 versus same period last year Asia Pacific 5% 7% 6% 12% 11% 11% 9% Continental Europe & RoW 13% 8% 10% 18% 11% 15% 12% United Kingdom & Ireland (10%) (10%) (10%) (4)% (5)% (4)% (7%) Operating profi
Slide 36: Continental Europe & RoW performance by country
CONTINENTAL EUROPE & ROW PERFORMANCE BY COUNTRY Relative size Country / sub region Net Fees Net fee growth # of offices # of consultants (ranked by net fees) (LFL*) Germany £230.3m 14% 19 1,503 France £55.4m 16% 17 365 Benelux £34.8m 9% 10 253 USA £32.2m 7% 12 200 Switzerland £21.2m - 4 105 Canada £
Slide 37: Consultant headcount
CONSULTANT HEADCOUNT Change in headcount As at As at Change As at Change June Dec since June since 2017 2016 Dec 2016 2016 June 2016 Asia Pacific 1,336 1,270 5% 1,210 10% Continental Europe & RoW 3,600 3,358 7% 3,034 19% United Kingdom & Ireland 1,948 1,978 (2%) 2,024 (4%) Group 6,884 6,606 4% 6,268
Slide 38: Office network
OFFICE NETWORK Number of offices 30 June Opened/ 30 June 2016 (Closed)* 2017 Asia Pacific 49 1 50 Continental Europe & RoW 103 (1) 102 United Kingdom & Ireland 100 (2) 98 Total 252 (2) 250 * Offices opened is shown net of closed and merged offices. 38
Slide 39: Trading days
TRADING DAYS UK Germany Number of trading days* H1 H2 Year H1 H2 Year Year ended 30 June 2016 129 125 254 131 123 254 Year ended 30 June 2017 128 125 253 128 123 251 Year ending 30 June 2018 127 125 252 125 123 248 * UK and Germany only. 39
Slide 40: The scale and scope of our business is unique
THE SCALE AND SCOPE OF OUR BUSINESS IS UNIQUE FY17 STATISTICS PERM 70,000 PLACEMENTS TEMP 240,000 ASSIGNMENTS 7 million CV’S RECEIVED 45,000 INTERVIEWS PER MONTH HITS ON HAYS LINKEDIN 27 million WEBSITES 1.8 million FOLLOWERS WORLDWIDE IN FY17 WE FILLED OVER 1,000 JOBS EVERY WORKING DAY 40
Slide 41: The Hays Business Model & Strategy for Growth
2.0 THE HAYS BUSINESS MODEL & STRATEGY FOR GROWTH 41
Slide 42: Hays is a leading global expert in qualified, professional and skilled recruitment
HAYS IS A LEADING GLOBAL EXPERT IN QUALIFIED, PROFESSIONAL AND SKILLED RECRUITMENT EXECUTIVE SEARCH (head hunting) PROFESSIONAL RECRUITMENT (mostly white collar) Contingent fee model Focus on high-skilled roles Clear structural growth markets GENERALIST RECRUITMENT (mostly blue collar) 42
Slide 43: A proven track record of organic growth
A PROVEN TRACK RECORD OF ORGANIC GROWTH New country & specialism entries Key: Organic Acquisition 33 COUNTRIES 20 SPECIALISMS Pre 1990 UK Australia Ireland A&F C&P IT Early 1990s Banking Fin Services Office Pros Late 1990s Czech Re. France N.Zealand Contact Ce. Education 2000 Belgium Portugal Legal
Slide 44: Our worldwide platform provides a pipeline of future growth opportunities
OUR WORLDWIDE PLATFORM PROVIDES A PIPELINE OF FUTURE GROWTH OPPORTUNITIES & LEADERSHIP IN ALL CORE MARKETS Hays market positioning* Market Leader Top 3 position Top 5 position Other TOP 3 Australia (#1) Malaysia Belgium New Zealand (#1) Brazil Poland (#1) France Portugal (#1) Germany (#1) Russia Hon
Slide 45: Our strategic focus is on building scale in key markets
OUR STRATEGIC FOCUS IS ON BUILDING SCALE IN KEY MARKETS HAYS COUNTRIES HAYS SPECIALISMS 2017 2017 33 20 11 10 2002 2002 Market leaders in 8 countries including: Leading market positions across UK, Australia, Germany professional and technical areas Additionally, top 3 market position in 12 Long esta
Slide 46: Market leading breadth and depth of platform
MARKET LEADING BREADTH AND DEPTH OF PLATFORM Divisional operating review 20 SPECIALISMS 33 COUNTRIES New Zealand Luxembourg Netherlands Switzerland Hong Kong Czech Rep Singapore Colombia Germany Denmark Australia Malaysia Hungary Portugal Belgium Sweden Canada Mexico Austria Poland France Russia Ire
Slide 47: The strength of our model is key to delivering for clients and financial performance
THE STRENGTH OF OUR MODEL IS KEY TO DELIVERING FOR CLIENTS AND DRIVING FINANCIAL PERFORMANCE THROUGH THE CYCLE Unrivalled … the best …delivers … a resilient … and scale, people, sector the best financial leverages balance and leading solutions for performance the Group to diversity… technology clien
Slide 48: There are 5 pillars which underpin the strength of our business model
THERE ARE 5 PILLARS WHICH UNDERPIN THE STRENGTH OF BALANCE, SCALE AND DIVERSIFICATION ARE WHAT SETS THE HAYS OUR BUSINESS MODEL BUSINESS MODEL APART AND DRIVES OUTPERFORMANCE Exposure to structural growth and more mature areas 1. BALANCE Long-established across technical, white-collar specialisms Un
Slide 49: Leveraging our best-in-class technology platform and brand
LEVERAGING OUR BEST-IN-CLASS TECHNOLOGY PLATFORM AND BRAND Global Internally integrated Delivering outcomes Database & externally connected to drive growth GLOBAL DIGITAL OPERATIONAL PLATFORM INTELLIGENCE OPERATIONAL 1 EFFECTIVENESS CROSS SYSTEM EFFECTIVENESS AWARENESS OPERATIONAL BEST CUSTOMER MANA
Slide 50: A balanced portfolio
A BALANCED PORTFOLIO Net Fees by type* Public Top 40 Recruitment sector contracts ~15% UK&I 15% Other** ~25% 27% Perm 33% 41% Office Sup. 7% Engineering 9% CE&RoW 30,000 Construction Private sector 49% customers & Property Spot 85% 15% ~85% ~75% Accountancy Temp & Finance 59% 15% APAC 24% IT 21% * I
Slide 51: Balanced business model: well diversified in structural and cyclical markets
BALANCED BUSINESS MODEL: WELL DIVERSIFIED IN STRUCTURAL AND CYCLICAL MARKETS Net fees by market maturity* (percentages in table show % of Group net fees in FY17) ESTABLISHED: DEVELOPING: >70% penetration >30-70% penetration 30% of Group net fees 28% of Group net fees (6)% LFL net fee growth UK & Ire
Slide 52: Balanced business model: sector diversity
BALANCED BUSINESS MODEL: SECTOR DIVERSITY EXPOSES US TO GROWTH OPPORTUNITIES AND PROTECTS OUR BUSINESS TOUGH: DECLINE <0%* STRONG: GROWTH >10%* 10% Banking Information Technology UK Education Engineering Oil & Gas Net fees 39% Sales & Marketing Short term challenges FY17 Long term opportunity £954.6
Slide 53: Balanced business model: exposure to temp/contractor markets
BALANCED BUSINESS MODEL: SECTOR-LEADING EXPOSURE TO KEY TEMP/CONTRACTOR MARKETS, PERM-GEARED IN HIGH GROWTH AREAS Hays FY17 Net Fees by geography Temp Perm 13% 44% 34% 61% 86% 87% 66% 56% 39% 14% Asia Rest of CE&RoW UK & Ireland Australia & New Zealand Germany 0% Group net fees 100% 53
Slide 54: Divisional Profiles
3.0 DIVISIONAL PROFILES 54
Slide 55: Asia Pacific represents 24% of Group net fees
ASIA PACIFIC REPRESENTS 24% OF GROUP NET FEES WITH AUSTRALIA REPRESENTING 72% OF DIVISIONAL NET FEES Net fees: £230.9m Net fees by specialism Net fees by country Operating profit: £69.3m Conversion rate: 30.0% 5% 23% 22% Countries: 7 6% Consultants: 1,336 8% 4% Offices: 50 13% 6% Perm : Temp 10% 72%
Slide 56: Continental Europe & RoW represents 49% of Group net fees
CONTINENTAL EUROPE & RoW REPRESENTS 49% OF GROUP NET FEES AND 48% OF GROUP PROFITS Net fees: £470.8m Net fees by specialism Net fees by country Operating profit: £100.7m Conversion rate: 21.4% 17% 15% Countries: 24 5% 32% Consultants: 3,600 4% 7% 4% 49% Offices: 102 7% Temp : Perm 9% 7% 62% 38% 13%
Slide 57: UK & Ireland represents 27% of Group net fees
UK & IRELAND REPRESENTS 27% OF GROUP NET FEES Net fees: £252.9m Net fees by specialism Net fees by region Operating profit: £41.5m 4% Conversion rate: 16.4% 20% 8% 22% Consultants: 1,948 10% 34% Offices: 98 8% 9% 20% 17% Temp : Perm 10% 11% 56% 44% 27% Account. & Fi nance Const. & P roperty London N
Slide 58: Profile of Hays Australia & New Zealand
PROFILE OF HAYS AUSTRALIA & NEW ZEALAND Year ended 30 June 2017 19% GROUP NET FEES TEMP 66% PERM 34% 911 CONSULTANTS £181m £63m 35% NET FEES EBIT CONV. RATE 38 OFFICES Net fees by specialism Net fees by region Q’land Banking Mining* Construction Acc. & Office Res & IT Other NSW Victoria ACT WA Other
Slide 59: Historic profile of Hays Australia & New Zealand
HISTORIC PROFILE OF HAYS AUSTRALIA & NEW ZEALAND Historic headline net fees (£M) Historic headline operating profit (£M) 210 182 179 181 81 87 163 72 135 129 138 139 134 60 64 63 49 45 44 44 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY consul
Slide 60: Profile of Hays Germany
PROFILE OF HAYS GERMANY Year ended 30 June 2017 24% GROUP NET FEES TEMP 87% PERM 13% 1,503 CONSULTANTS £230m £81m 35% NET FEES EBIT CONV. RATE 19 OFFICES Net fees by specialism Net fees by contract type Acc. & IT Engineering Finance Other Contracting Temp Perm 42% 30% 11% 17% 62% 25% 13% Note: All d
Slide 61: Historic profile of Hays Germany
HISTORIC PROFILE OF HAYS GERMANY Historic headline net fees (£M) Historic headline operating profit (£M) 230 81 175 63 136 150 164 158 52 58 62 60 106 36 38 88 80 26 63 24 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY consultant headcount Hist
Slide 62: Historic profile of Hays UK & Ireland
HISTORIC PROFILE OF HAYS UK & IRELAND £ Historic headline net fees (£M) £ Historic headline operating profit (£M) 453 137 331 272 272 253 244 242 225 222 246 64 52 46 42 26 11 4 (7) 6 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY consultant he
Slide 63: Local currency – Hays net fees and operating profit
LOCAL CURRENCY – HAYS NET FEES AND OPERATING PROFIT Australia & New Zealand Australia & New Zealand Historic net fees (AUDm) Historic operating profit (AUDm) 365 182 323 305 293 293 274 245 263 273 134 232 130 116 98 90 106 88 80 83 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY08 FY09 FY10 FY
Slide 64: Further Information
FURTHER INFORMATION HEAD OF INVESTOR RELATIONS DAVID WALKER david.walker@hays.com +44 207 391 6613 For more information about the Group: haysplc.com/investors or @haysplcIR