Hays profit rises on strong international performance

30th Aug 2018 07:46

(Sharecast News) - Hays reported a 17% jump in full-year profit on Thursday as the recruiter boosted its dividend after a "landmark" year that saw solid growth in its international businesses.In the year to 30 June, pre-tax profit rose to £238.5m from £204.6m the year before, with net fees up 12% to £1.07bn.The company said it was lifting its final core dividend by 22% to 2.75p a share, boosting the full-year dividend to 3.81p, up 18% on the previous year. It also recommended the payment of a 5p a share special dividend, up 18%.Hays said market conditions remained "strong" overall during the year, with many clear opportunities to grow, notably in Australia, Germany and the rest of the world. Within RoW, its Asia and Americas growth accelerated throughout the year, while in the UK, markets remain uncertain but stable, it said.Germany saw net fees grow a record 16% to £276m, while net fees in Australia and New Zealand rose 14% to £199.4m. Net fees in the rest of the world were up 17% to £339.2m but the UK and Ireland saw much more muted growth of 2% to £258.2m.Chief executive Alistair Cox said: "2018 was a landmark year for the group. We successfully completed our ambitious 2013 plan, passed £1bn in net fees for the first time and 22 countries delivered all-time records. Our RoW business was the standout performer with excellent profit growth of 51%, despite significant investment."Looking ahead, conditions remain positive in virtually all of our markets. We are investing significantly in key growth markets where we see structural and market share opportunities, notably Germany, France and the USA. We continue to build on our scale and diversity and are focused on driving profitable, cash-generative growth. The sheer scale and diversity of our global platform combined with our highly experienced management teams means we are well-positioned to capitalise on the growth opportunities identified in our 2022 plan."