Hays Share Discussion Threads

[gorse] 24/10/2011 09:10

I went long on it at a lower price on the basis of fundamentals.

[trader steve] 24/10/2011 08:22

Went long on this today on the trend reversal signal to up.

[wskill] 11/10/2011 09:28

Forecasts of earnings of over 6p for 2012 so the divi should be safe and net debt will reduce in the 2nd half I like the fact that 68% of earnings are overseas with a large proportion now from the BRIC growth areas.

[666james] 10/10/2011 12:57

going up for the divi..should drop back after EX date

[ninja 19] 07/10/2011 16:54

tHANKS james

[666james] 07/10/2011 13:38

Ninja.. divi paid 18/11 goes ex divi 12/10. Its all under "financials" at the top of the page. when you get to the page it is towards the bottom.

[ninja 19] 06/10/2011 16:41

when is div due?

[salpara111] 06/10/2011 11:25

I bought at 90 because it looked good value, on the basis of todays results I am seriously considering adding some more.

[wskill] 06/10/2011 10:38

Investec reiterates its 100p target price after todays update.

C/E says trading remains robust in the vast majority of Hays markets.

LONDON (ShareCast) - Hays, the recruitment firm, has seen like-for-like worldwide growth of 15% in net fee income with its Asia Pacific arm achieving 21% growth in the three months to the end of September.

The UK and Ireland, however, has posted a 4% like-for-like (LFL) decline, with private sector growth of 2% offset by public sector markets, which were down 24%.

The international operations of Hays account for 68% of fees for placing people in jobs. 19 countries in its international network achieved net fee growth of 20% or more, with Brazil and China both growing by more than 40%.

"Whilst we are mindful of the increasing macro economic uncertainty around the world, trading remains robust in the vast majority of our International markets," said Alistair Cox, chief executive of Hays.

"In the UK, we have seen a further slowdown in private sector growth, although public sector markets remain broadly stable on a sequential basis," Cox added.

For once, there was little difference in the growth rates of the Temporary and Permanent placements parts of the business. The Temporary placement business saw LFL net fee income growth of 16% while the Permanent placement arm saw LFL growth of 15%.

The group's underlying temporary placement margin remained broadly stable and in line with the previous quarter.

The consultant headcount increased by 6% during the quarter, driven by ongoing investment in Asia, Continental Europe and South America. New offices were opened in Cologne in Germany and Guangzhou in China during the quarter, while Hays Colombia, the group's 31st country operation, was launched in July.

[ninja 19] 06/10/2011 09:10

Fantastic effort, business up . Even in Australia, they were forecasting decline, where half the money comes from , up 20% in that segement

15% increase in fees too.

[wskill] 06/10/2011 09:00

Looks good to me cannot find any reason now why Hays should not return to £1.20 for this sort of growth in a recession excellent well done to management.




6 October 2011





Financial summary

Growth in net fees for the quarter ended 30 September 2011 (Q1) growth
(versus the same period last year)
actual LFL*
By region
Asia Pacific 34% 21%
Continental Europe & Rest of World 41% 34%
United Kingdom & Ireland (4)% (4)%
Total 21% 15%

By segment
Temporary 21% 16%
Permanent 21% 15%
Total 21% 15%

* LFL (like-for-like) growth represents organic growth at constant currency.
Average exchange rates during the period were GBP1:AUD$1.54 and GBP1:EUR1.14 (AUD$1.72
and EUR1.20 in the prior year period)


Highlights

· Group net fee growth of 15%* versus prior year, driven by continued strong
performance of our International businesses, which represented 68% of net
fees in the quarter

· Excellent and broadly based growth of 34%* in Continental Europe & Rest of
World, driven by Germany, which grew net fees by 34%*

[666james] 29/9/2011 18:22

Decide to do something...its 12/10/11.

[666james] 29/9/2011 18:20

WD just being lazy but what date does it go "ex divi"

[wad collector] 29/9/2011 14:27

Added at 73, ex div soon.Good money after bad?

[lyntwyn] 02/9/2011 09:19

Martin Waller, todays Times

Last updated September 2 2011 12:01AM
The market has well and truly fallen out of love with Hays. As a global recruiter of a wide range of staff, secretaries, accountants, whatever, the company is heavily exposed to global economic trends, and it managed to report some admittedly good results on the day a fresh range of dismal indicators worldwide were also announced.

The shares, which have lost about 40 per cent of their value this year, gave up some earlier gains to end up 5½p at 80½p. The doubts are twofold. The dividend is not covered by earnings per share. The yield has approached 8 per cent, which has supported the shares, but a number of analysts think that, if the business is affected by a global economic slowdown, it will have to be cut.

This time at least, for the year to the end of June, the total dividend is being held at 5.8p. Alistair Cox, the chief executive, points out that the dividend has not been cut during the four years he has been at the helm, despite the worst recession anyone can remember.

The second doubt is that exposure to a global downturn. Australia accounts for more than half operating profits; outside the mining and resources sectors, prospects for the economy there are not good. Mr Cox counters that there are still chronic skills shortages in that country, with engineers, IT and finance staff having to be imported, while his business there is the market leader by far.

Eight years ago, 90 per cent of the business was in Britain. Today, the rest of the world accounts for two thirds of fee income. The state of the British market indicates why Hays needs that global spread.

Across the group, fees rose by 18 per cent on a like-for-like basis to £672.1 million. Operating profits, on a similar basis, are up 33 per cent to £114.1 million before exceptionals. Asia, Australasia and Germany were the standouts; Mr Cox says there is still plenty of growth to come in places such as Brazil, France, Japan and Canada, and the company has just opened in Colombia.

But in Britain, where the public sector jobs market is understandably poor and the private sector is seeing a slowdown in growth, operating profits fell from £11.4 millon to £3.6 million. Mr Cox says that two months into this financial year he can see no sign of any adverse effects on present trading from the economic uncertainty, but forward visibility in his line of business is poor.

The shares sell on 11 times this year's earnings; that does not look like a signal to buy.

[wad collector] 01/9/2011 16:33

Seems undervalued to me.Even with todays rise it yields 7.2% in what looks like a securely underpinned dividend.Small profit for large turnover is the brake I guess.Unfortunately I picked up most of mine too early at around 90p.Happy to hold.

[miata] 01/9/2011 15:55

01-Sep Hays PLC HAS RBS Buy 80.08 - 150 Reiterates
01-Sep Hays PLC HAS Investec Buy 80.08 100 100 Retains
01-Sep Hays PLC HAS Collins Stewart Hold 80.08 90 90 Reiterates
01-Sep Hays PLC HAS Evolution Securities Buy 80.08 170 170 Retains
01-Sep Hays PLC HAS Panmure Gordon Buy 80.08 124 100 Retains
01-Sep Hays PLC HAS Charles Stanley Buy 80.08 150 150 Reiterates
01-Sep Hays PLC HAS Seymour Pierce Reduce 80.08 90 70 Retains
01-Sep Hays PLC HAS Altium Securities Hold 80.08 90 - Upgrades
01-Sep Hays PLC HAS Shore Capital Buy 80.08 - - Reiterates
01-Sep Hays PLC HAS Merchant Securities Buy 80.08 100 100 Reiterates
01-Sep Hays PLC HAS Peel Hunt Buy 80.08 150 150 Reiterates
01-Sep Hays PLC HAS ING Hold 80.08 125 70 Retains

[wstirrup] 09/8/2011 12:25

Dead Cat? or Falling knife? Mind your fingers either way guys...

W.

[macau] 02/8/2011 14:02

A very sorry looking chart and not much hope of improving

[salpara111] 19/7/2011 21:13

took a bite today at 90.75

Business seems to be pretty solid outside UK/Ireland, nice divi as well.

[dawntrader] 10/6/2011 16:24

CNBC had this on and said that ADECCO had said only bolt on acquisitions. Think leave this one myself .

[wad collector] 10/6/2011 12:45

Thanks.Ah, for every takeover rumour to come true....

The world's biggest staffing agency, Adecco, could be lining up a £2.2bn or 160p-a-share cash bid according to the Daily Mail's market report. The company refused to comment but said it was eyeing potential "bolt-on" acquisitions.

Hays reported a 16pc jump in net fees for the quarter ending March 31 on a like-for-like basis, citing strong growth overseas.

However, Hays is considered vulnerable to a takeover by some as its UK business saw net fees decline by 2pc over the period, largely due to a drop in income from public sector jobs.

Fees from public sector jobs is now down about 50pc from peak levels, the group said in April.