Hays Plc · LSE:HAS
Hays — FY2014 Earnings Presentation
65 slides from Hays's earnings presentation, Aug 27, 2014
Slide 1: Preliminary Results, Year ended 30 June 2014
PRELIMINARY RESULTS Year ended 30 June 2014
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 FINANCIAL REVIEW PAUL VENABLES, FINANCE DIRECTOR 2 OPERATING REVIEW ALISTAIR COX, CHIEF EXECUTIVE 3 STRATEGY UPDATE ALISTAIR COX, CHIEF EXECUTIVE 4 CURRENT TRADING ALISTAIR COX, CHIEF EXECUTIVE 5 APPENDICES 3
Slide 4: 1. Financial Review
1. FINANCIAL REVIEW PAUL VENABLES GROUP FINANCE DIRECTOR
Slide 5: Strong Group Financial Performance
STRONG GROUP FINANCIAL PERFORMANCE Net fees Operating Profit** Free Cash flow*** FY 10 £557.7m FY 10 £80.5m FY 10 £52.7m FY 11 £672.1m FY 11 £114.1m FY 11 £62.2m FY 12 £734.0m FY 12 £128.1m FY 12 £111.8m FY 13 £719.0m FY 13 £125.5m FY 13 £82.8m FY 14 £724.9m FY 14 £140.3m FY 14 £108.4m Net fees Oper
Slide 6: Strong Group Financial Performance: Income statement
STRONG GROUP FINANCIAL PERFORMANCE Income statement** Year ended 30 June 2014 2013 Actual LFL* £m £m growth growth Turnover 3,678.5 3,696.9 0% 3% Net fees 724.9 719.0 1% 5% Operating profit 140.3 125.5 12% 20% Net finance cost (8.0) (7.0) Profit before tax 132.3 118.5 12% Tax (46.3) (46.8) Profit af
Slide 7: Strong Profit Leverage; Increased Conversion Rate to 19.4%
Conversion Rate** H1 FY 12 12 £558m17.5% STRONG PROFIT LEVERAGE; INCREASED CONVERSION H2 FY 12 13 £672m 17.5% H1 FY 13 14 £734m 19.4% RATE TO 19.4% Performance by region* 24% 42% 34% of net of net of net fees fees fees Asia Pacific Continental Europe & RoW United Kingdom & Ireland Net Fees £173.9m (
Slide 8: Good Growth in Both Temp and Perm Markets
Split of net fees FY 12 56% Temp FY 13 49% Temp 59% Temp GOOD GROWTH IN BOTH TEMP AND PERM MARKETS FY 14 52% Temp 59% Temp Review of Group Permanent and Temporary Businesses* Permanent placement business Temporary placement business 5% net fee growth 5% net fee growth 7% volume increase 7% volume in
Slide 9: FX Translation Sensitivities for the Group
THE AUSTRALIAN DOLLAR AND EURO REMAIN SIGNIFICANT FX TRANSLATION SENSITIVITIES FOR THE GROUP Key FX rates and sensitivities Year ended 30 June 2014 Average Closing Australian $ 1.7729 1.8142 Euro € 1.1988 1.2496 Impact of a one cent change per annum Net fees Op profit Australian $ +/- £0.7m +/- £0.2
Slide 10: ETR Decreased to 35% After Material Increase in UK Profits
‘ETR’ DECREASED TO 35% AFTER MATERIAL INCREASE IN UK PROFITS Finance charge and taxation Year ended 30 June 2014 2013 £m £m Finance charge Net interest charge on debt (5.0) (7.0) IAS 19 pension charge (non-cash) (2.6) (0.4) PPF levy (0.4) 0.4 Net finance charge (8.0) (7.0) We expect the net financ
Slide 11: 19% Increase in Earnings Per Share
Basic EPS H1 FY3.25p** 10 12 12 7.72p 5.47p H2 FY 12 11 13 5.19p 5.14p 5.19p** 19% INCREASE IN EARNINGS PER SHARE 12 14 FY H1 13 5.47p 6.13p Basic earnings per share (EPS) Year ended 30 June 2014 2013 Change Basic earnings £86.0m £71.7m 20% Weighted average number of shares* 1,403.9m 1,393.8m Basic
Slide 12: Strong Cash Performance
Cash from operations* FY 12 £78.1m £162.2m FY 13 £97.3m £136.3m STRONG CASH PERFORMANCE FY 14 £175.6m H1 13 £162.2m Operating profit to free cash flow conversion Uses of cash flow Operating cash flow* £175.6m (FY13: £136.3m) Capex £11.8m £29.3m £6.0m Tax paid: Pensions £13.5m £10.8m one-off settleme
Slide 13: Balance Sheet Remains Strong
BALANCE SHEET REMAINS STRONG Balance sheet analysis 30 June 30 June GOODWILL & INTANGIBLES £m 2014 2013 Decrease primarily due to the c.£13m Goodwill & intangibles 207.1 221.7 amortisation of intangibles on Hays IT systems Property, plant & equipment 17.6 22.3 NET WORKING CAPITAL Net deferred tax
Slide 14: Net Debt Decreased by £42.5 Million in FY14
Free cash flow* FY £52.7m 12 £111.8m £62.2m £82.8m FY 13 NET DEBT DECREASED BY £42.5 MILLION IN FY14 Closing net debt £m 145.4 NET DEBT REDUCED 132.9 average net debt down c.£42m in FY14 105.2 105.2 £300M BANK FACILITY IN PLACE expires October 2017 62.7 NET DEBT / EBITDA RATIO: 0.4X** debt cov
Slide 15: Full Year Dividend Increased by 5%
FULL YEAR DIVIDEND INCREASED BY 5% FREE CASH Fund Group investment and development Maintain a strong balance sheet FLOW Deliver a sustainable core dividend which is affordable and PRIORITIES appropriate CORE Cash returns should be sustainable, progressive and appropriate Target core divide
Slide 16: Delivering on Five Year Aspirations Will Generate Significant Free Cash Flow
DELIVERING ON OUR FIVE YEAR ASPIRATIONS WILL GENERATE SIGNIFICANT FREE CASH FLOW Our business is highly cash generative Our free cash flow priorities remain unchanged: We will continue to invest in the Group We will build a net cash position in the region of £50 million Assuming a positive
Slide 17: Financial Summary
FINANCIAL SUMMARY GOOD GROUP NET FEE PERFORMANCE, UP 5%* Driven by meaningful net fee growth in the UK Perm and Temp businesses both up 5%* EXCELLENT GROWTH IN OPERATING PROFIT, UP 20%* Excellent operating profit performance underpinned by selective investment, improved consultant productivity
Slide 18: 2. Operating Review
2. OPERATING REVIEW ALISTAIR COX CHIEF EXECUTIVE
Slide 19: The Scale and Scope of Our Business is Unique
THE SCALE AND SCOPE OF OUR BUSINESS IS UNIQUE FY14 STATISTICS 57,000 PERM PLACEMENTS 212,000 TEMP ASSIGNMENTS 8 million CV’S RECEIVED 35k to 40k INTERVIEWS PER MONTH 35 million HITS ON HAYS WEBSITES 700,000 LINKEDIN FOLLOWERS WORLDWIDE IN FY14 WE FILLED OVER 1,000 JOBS EVERY WORKING DAY 19
Slide 20: Asia Pacific: Australian Market Tough but Stable; Excellent Performance in Asia
Headline APAC net fees FY 10 12 £146m £242m FY 11 13 £212m £210m AUSTRALIAN MARKET TOUGH, BUT STABLE FOR SIX FY 14 £174m £242m MONTHS; EXCELLENT PERFORMANCE IN ASIA Australia & NZ (net fees: £137.5m; operating profit: £44.8m) APAC Net fees down 12%*, operating profit down 19%* 57% Temp net fees
Slide 21: Continental Europe & RoW: Germany Growth Good, Profit Increase in Rest of Division
Headline CE&RoW net fees FY 1210 £267m £133m £168m FY 1311 £285m £220m £134m GERMANY GROWTH GOOD AND SIGNIFICANT FY 14 H1 13 £140m £305m £267m PROFIT INCREASE IN THE REST OF THE DIVISION Germany (net fees: £163.7m) CE&RoW Good net fee growth of 8%*; Profit growth of 6%* 61% Continued growth in c
Slide 22: UK & Ireland: Strong Fee Growth, Excellent Profit Leverage
Headline UK&I net fees FY 12 10 £225m £244m FY 13 11 £222m £242m STRONG FEE GROWTH ACROSS ALL REGIONS & MOST 12FY 14 £246m £225m SPECIALISMS; EXCELLENT OPERATING PROFIT LEVERAGE Strong fee growth and excellent conversion into profits UK & IRELAND Net fees increased by £24.0m, operating profit incr
Slide 23: 3. Strategy Update
3. STRATEGY UPDATE ALISTAIR COX CHIEF EXECUTIVE
Slide 24: Reminder of Our Key Strategic Priorities
THERE ARE 5 PILLARS WHICH UNDERPIN THE STRENGTH OF REMINDER OF OUR KEY STRATEGIC PRIORITIES OUR BUSINESS MODEL 1. ASPIRATION TO BROADLY DOUBLE AND DIVERSIFY GROUP PROFITS 2. GENERATE AND DISTRIBUTE MEANINGFUL CASH RETURNS 3. BUILD DIVERSITY AND SCALE ACROSS GLOBAL PLATFORM POSITION THE GROUP FOR LON
Slide 25: Five Year Aspirations: Year One Ahead of Plan
FIVE YEAR ASPIRATIONS: YEAR ONE AHEAD OF PLAN UK & Ireland (£m) Operating Profit* Australia & NZ (£m) Operating Profit* FY13 6 FY13 64 FY14 26 45 60 75 FY14 45 60 70 80 5 YR. OBJECTIVE Lower Mid Upper 5 YR. OBJECTIVE RANGE RANGE ASSUMED 5YR NET FEE CAGR: +5% to +9% ASSUMED 5YR NET FEE CAGR: +1% to +
Slide 26: Many Standout Performances Across the Platform
MANY STANDOUT PERFORMANCES FROM ACROSS THE PLATFORM SWITZERLAND SINGAPORE BELGIUM NET FEES NET FEES NET FEES UP 15%* to £13.5m UP 28%* to £8.4m UP 16%* to £13.8m OPERATING PROFIT OPERATING PROFIT OPERATING PROFIT UP £1.8m to £3.8m UP £0.9m to £1.7m UP £0.7m to £2.8m POSTED 4 SETS OF IT CONTRACTING C
Slide 27: Hays in France: Taking Market Share and Driving Growth
THERE ARE 5 PILLARS WHICH UNDERPIN THE STRENGTH OF HAYS IN FRANCE: TAKING MARKET SHARE & DRIVING GROWTH IN A OUR BUSINESS MODEL TOUGH ECONOMY France is a Future Material Profit Driver Hays in 2014 Organically built since 2000 £36.2m £4.3m 270 Top 2 market position with 15 offices and NET FEES EB
Slide 28: We Continued to Invest Aggressively in Our Key Assets
THERE ARE 5 PILLARS WHICH UNDERPIN THE STRENGTH OF WE CONTINUED TO INVEST AGGRESSIVELY IN OUR KEY ASSETS OUR BUSINESS MODEL SECTOR LEADING THE BEST PEOPLE WORLD CLASS BRAND TECHNOLOGY SYSTEMS THIS COMBINATION IS UNIQUE IN TODAY’S RECRUITMENT INDUSTRY 28
Slide 29: A Strong 2014 Result; Delivering on Our Promises
THERE ARE 5 PILLARS WHICH UNDERPIN THE STRENGTH OF A STRONG 2014 RESULT; DELIVERING ON OUR PROMISES AND OUR BUSINESS MODEL STRATEGICALLY ON-TRACK 1. STRONG OPERATING PROFIT AND CASH PERFORMANCE DRIVES INCREASED DIVIDEND 2. £10 MILLION AHEAD AFTER YEAR ONE OF OUR STRATEGY TO DOUBLE GROUP PROFITS 3. S
Slide 30: 4. Current Trading
4. CURRENT TRADING ALISTAIR COX CHIEF EXECUTIVE
Slide 31: Current Trading Conditions by Region
STRONG GROWTH IN THE UK AND MANY OTHER KEY PARTS OF THE GROUP; AUSTRALIA SEQUENTIALLY STABLE; CONTINUED GOOD GROWTH IN GERMANY Current trading conditions by region Conditions in Australia remain tough, but broad-based sequential stability for the last 8 months APAC Temp stable for 12 months; Per
Slide 32: Questions & Answers
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Slide 33: 5. Appendices
5. APPENDICES
Slide 34: FY 2014 Results Supporting Information
1.0 FY 2014 RESULTS SUPPORTING INFORMATION 34
Slide 35: Material Increase in CE&RoW (ex-Germany) Profitability
MATERIAL INCREASE IN CE&RoW (EX-GERMANY) PROFITABILITY Operating profit split in Continental Europe & RoW Year ended 30 June 2014 2013 LFL £m £m growth* Germany 61.6 57.6 6% Rest of CE&RoW (23 countries) 14.9 7.5 94% CE&RoW Central Costs (12.1) (12.4) (3)% CE&RoW Operating Profit 64.4 52.7 20% Ger
Slide 36: Like-for-Like Summary
LIKE-FOR-LIKE SUMMARY Year ended 30 June 2013 FX impact Organic 2014 LFL* £m £m £m £m growth Net fees Asia Pacific 211.8 (26.4) (11.5) 173.9 (6)% Continental Europe & RoW 285.2 (1.6) 21.4 305.0 8% United Kingdom & Ireland 222.0 0.1 23.9 246.0 11% 719.0 (27.9) 33.8 724.9 5% Operating profit Asia Paci
Slide 37: H2 FY14 v H1 FY14: Analysis by Division
H2 FY14 v H1 FY14: ANALYSIS BY DIVISION Net fee growth (LFL*) Q1 14 Q2 14 H1 14 Q3 14 Q4 14 H2 14 FY14 versus same period last year Asia Pacific (12)% (9)% (10)% (4)% 0% (1)% (6)% Continental Europe & RoW 6% 5% 6% 11% 7% 9% 8% United Kingdom & Ireland 8% 10% 9% 14% 11% 12% 11% Operating profit growt
Slide 38: Continental Europe & RoW Performance by Country
CONTINENTAL EUROPE & RoW PERFORMANCE BY COUNTRY Relative size Country / sub region Net fee growth # of offices # of consultants (ranked by net fees) (LFL*) Germany 8% 13 828 France 5% 15 270 Benelux 15% 15 185 Canada 5% 6 123 Switzerland 15% 3 72 Poland 11% 6 151 Other** (16 countries) 5% 30 516 88
Slide 39: Consultant Headcount
CONSULTANT HEADCOUNT Change in headcount As at As at Change As at Change June Dec since June since 2014 2013 Dec 2013 2013 June 2013 Asia Pacific 1,055 1,009 5% 1,024 3% Continental Europe & RoW 2,145 2,121 1% 2,084 3% United Kingdom & Ireland 2,157 2,020 7% 1,929 12% 5,357 5,150 4% 5,037 6% 39
Slide 40: Office Network
OFFICE NETWORK Number of offices 30 June Opened/ 30 June 2013 (Closed)* 2014 Asia Pacific 48 (1) 47 Continental Europe & RoW 89 (1) 88 United Kingdom & Ireland 102 0 102 Total 239 (2) 237 * Offices opened is shown net of closed and merged offices. 40
Slide 41: Trading Days
TRADING DAYS Number of trading days* H1 H2 Year Year ended 30 June 2013 128 124 252 Year ending 30 June 2014 129 124 253 Year ending 30 June 2015 129 124 253 * UK only. 41
Slide 42: The Hays Business Model & Strategy for Growth
2.0 THE HAYS BUSINESS MODEL & STRATEGY FOR GROWTH 42
Slide 43: 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) 43
Slide 44: 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 45: 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) Japan (#1) Belgium Malaysia Brazil New Zealand (#1) Colombia Poland (#1) Czech Rep Portugal (#1)
Slide 46: Our Strategic Focus is on Building Scale in Key Markets
OUR STRATEGIC FOCUS IS ON BUILDING SCALE IN KEY MARKETS HAYS COUNTRIES HAYS SPECIALISMS 2014 2014 33 20 11 10 2002 2002 Market leaders in 9 countries including: Leading market positions across UK, Australia, Germany professional and technical areas Additionally, top 3 market position in 12 L
Slide 47: 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 Malaysia Australia Hungary Portugal Belgium Sweden Canada Mexico Austria France Poland Ireland Ru
Slide 48: The Strength of Our Model is Key to Delivering for Clients
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 49: We Have the Platform in Place to Drive Future Growth
WE HAVE THE PLATFORM IN PLACE TO DRIVE FUTURE GROWTH CORE PROFIT FUTURE MATERIAL NETWORK NEXT WAVE DRIVERS PROFIT DRIVERS CRITICAL AUSTRALIA JAPAN USA 20 OTHER HAYS GERMANY CANADA CHINA COUNTRIES UK FRANCE RUSSIA BRAZIL OTHER LATAM 5 YEARS 5-10 YEARS ONGOING 49
Slide 50: Balance, Scale and Diversification Set the Hays Business Model Apart
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 specialism
Slide 51: 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 BEST CUSTOMER OPERATIONAL MANA
Slide 52: A Balanced Portfolio
A BALANCED PORTFOLIO Net Fees by type* Recruitment Public Top 40 contracts sector ~15% UK&I Other** 16% Perm ~25% 34% 34% 41% Office Sup. 8% 30,000 CE&RoW Engineering 9% Private sector customers Construction Spot 84% ~85% 42% & Property ~75% 16% Temp Accountancy 59% & Finance 16% APAC IT 24% 17% * I
Slide 53: Balanced Business Model: 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 FY 14) ESTABLISHED**: DEVELOPING: >70% penetration >30-70% penetration 34% of Group net fees 27% of Group net fees UK & Ireland -8% LFL net fee
Slide 54: 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%* 13% 14% Energy Healthcare Financial Services Human Resources Resources & Mining Education Net fees Oil & Gas Short term challenges FY14 Long term opportunit
Slide 55: Balanced Business Model: Temp and Perm Exposure
BALANCED BUSINESS MODEL: SECTOR-LEADING EXPOSURE TO KEY TEMP MARKETS, PERM-GEARED IN HIGH GROWTH AREAS Hays FY14 Net Fees by geography Temp Perm 11% 41% 32% 72% 88% 89% 68% 59% 28% 12% Asia Rest of CE&RoW UK & Ireland Australia & New Zealand Germany 0% Group net fees 100% 55
Slide 56: Divisional Profiles
3.0 DIVISIONAL PROFILES 56
Slide 57: 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: £173.9m Net fees by specialism Net fees by country Operating profit: £49.7m Conversion rate: 28.6% 21% Countries: 7 30% 7% Consultants: 1,055 8% Offices: 47 16% 5% 72% Temp : Perm 7% 10% 11
Slide 58: Profile of Hays Australia & New Zealand
PROFILE OF HAYS AUSTRALIA & NEW ZEALAND Year ended 30 June 2014 19% GROUP NET FEES TEMP 68% PERM 32% 704 CONSULTANTS £138m £45m 33% NET FEES EBIT CONV. RATE 37 OFFICES Net fees by specialism Net fees by region Q’land Mining Res & Construction Acc. & Office NZ IT Other NSW Victoria WA Other & Propert
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 87 182 179 81 163 72 64 135 129 138 54 60 110 49 45 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY consultant headcount Historic Conversion
Slide 60: Continental Europe & RoW Represents 42% of Group Net Fees
CONTINENTAL EUROPE & RoW REPRESENTS 42% OF GROUP NET FEES AND 46% OF GROUP PROFITS Net fees: £305.0m Net fees by specialism Net fees by country Operating profit: £64.4m Conversion rate: 21.1% 14% 15% 4% 28% Countries: 24 3% 4% Consultants: 2,145 8% 5% Offices: 88 54% 11% 7% Temp : Perm 21% 12% 14% 6
Slide 61: Profile of Hays Germany
PROFILE OF HAYS GERMANY Year ended 30 June 2014 23% GROUP NET FEES TEMP 89% PERM 11% 828 CONSULTANTS £164m £62m 38% NET FEES EBIT CONV. RATE 13 OFFICES Net fees by specialism Net fees by region IT Engineering Other Contracting Temp Perm 40% 33% 27% 68% 21% 11% Note: All data is presented as of 30 Ju
Slide 62: Historic Profile of Hays Germany
HISTORIC PROFILE OF HAYS GERMANY Historic headline net fees (£M) Historic headline operating profit (£M) 164 62 136 150 58 52 106 88 80 36 38 63 24 26 41 15 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY consultant headcount Historic Conversion Rates 804 828 38 41
Slide 63: UK & Ireland Represents 34% of Group Net Fees
UK & IRELAND REPRESENTS 34% OF GROUP NET FEES Net fees: £246.0m Net fees by specialism Net fees by region Operating profit: £26.2m 3% 7% Conversion rate: 10.7% 19% 21% Consultants: 2,157 14% 34% Offices: 102 9% 19% 17% Temp : Perm 10% 10% 12% 25% 59% 41% Private : Public sector Account. & Finance Co
Slide 64: Historic Profile of Hays UK & Ireland
HISTORIC PROFILE OF HAYS UK & IRELAND £ Historic headline net fees (£M) £ Historic headline operating profit (£M) 417 453 141 137 331 244 242 225 222 246 64 11 26 4 (7) 6 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY consultant headcount Historic Conversion Rates
Slide 65: Further Information
FURTHER INFORMATION HEAD OF INVESTOR RELATIONS DAVID WALKER david.walker@hays.com +44 207 391 6613 For more information about the Group: hays.com/investors or @haysplcIR