15 Jan, 2025 07:25 15 Jan, 2025 07:26

Hays sees H1 profit at lower end of expectations amid subdued market

Recruitment firm Hays said it expected interim pre-exceptional operating profit of £25m, towards the lower end of the consensus range amid subdued trading conditions as like-for-like net fees fell 12% in the second quarter.

FTSE 250

20,326.38

17:14 28/02/25

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FTSE 350

4,808.02

17:14 28/02/25

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FTSE All-Share

4,754.32

17:14 28/02/25

n/a

Hays

70.35p

17:15 28/02/25

-0.50%

-0.35p

Support Services

11,034.16

17:14 28/02/25

-0.03%

-3.09

Group consultant headcount decreased by 2% in the quarter, mainly in the UK, and by 15% year-on-year.

“It is too early to say if recent perm weakness in EMEA, UK&I, and Germany reflects a more sustained market slowdown, or shorter-term deferrals of client and candidate decision making. However, we expect near-term market conditions to remain subdued,” the company said on Wednesday.

The company’s own consensus operating profit for the first half is £27m with a £24m - £33.2m range.

Reporting by Frank Prenesti for Sharecast.com