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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Hays plc    HAS   GB0004161021

HAYS PLC

(HAS)
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SThree reports fall in net fees as coronavirus takes toll on hiring

06/15/2020 | 03:33am EST

British recruiting firm SThree reported a 7% fall in half-year net fees on Monday, with its UK and Japan businesses taking the biggest hit, as companies refrained from hiring new employees during the health crisis.

The recruitment industry has been reeling under the pressure of a hiring freeze as governments impose lockdowns to curb the spread of the COVID-19 pandemic. As a result, SThree ceased all recruiting activities in April, cut its dividend and slashed management pay to cushion the blow.

"Whilst lockdowns are currently being eased to differing extents globally, we still see heightened uncertainty continuing for some time," said Mark Dorman, chief executive officer of SThree.

The company, which hires employees for finance, energy, banking, pharmaceutical, engineering and tech sectors, said net fees earned for the six months to May 31 was 151.2 million pounds compared with 163 million pounds reported a year ago.

"With lockdown impacting the majority of the quarter, we see this as a very resilient performance," Liberum analyst Sanjay Vidyarthi said.

SThree, which posted a decline in fees earned across all its regions, said net fees in Japan and UK fell 24% and 14%, respectively, in the six months.

Its peers PageGroup Plc, Robert Walters and Hays have also taken some extreme steps to weather the coronavirus outbreak by cutting jobs, furloughing staff and slashing board pay, among other things.

(This story has been refiled to correct spelling of Dorman in paragraph 3)

(Reporting by Indranil Sarkar in Bengaluru; Editing by Amy Caren Daniel)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
HAYS PLC -2.00% 137.5 Delayed Quote.-1.89%
PAGEGROUP -1.65% 439.8 Delayed Quote.-0.04%
ROBERT WALTERS PLC 1.92% 530 Delayed Quote.9.94%
STHREE PLC -1.56% 319.915 Delayed Quote.9.06%
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Financials
Sales 2021 5 186 M 7 078 M 7 078 M
Net income 2021 29,3 M 40,0 M 40,0 M
Net cash 2021 294 M 401 M 401 M
P/E ratio 2021 73,8x
Yield 2021 1,16%
Capitalization 2 352 M 3 223 M 3 210 M
EV / Sales 2021 0,40x
EV / Sales 2022 0,35x
Nbr of Employees 10 438
Free-Float 99,2%
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Technical analysis trends HAYS PLC
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TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
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Mean consensus OUTPERFORM
Number of Analysts 13
Average target price 144,46 GBX
Last Close Price 140,30 GBX
Spread / Highest target 28,3%
Spread / Average Target 2,97%
Spread / Lowest Target -14,5%
EPS Revisions
Managers and Directors
NameTitle
Alistair Richard Cox Chief Executive Officer & Executive Director
Andrew David Martin Non-Executive Chairman
Paul Venables Group Finance Director & Executive Director
Steve Weston Chief Technology Officer
Torsten G. Kreindl Independent Non-Executive Director
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