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Hays profit slumps in H1, but vows to resume dividend on stronger Q2 recovery
StockMarketWire.com
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Hays reported a sharp fall in first-half profit, but the recruitment company vowed to resume its dividend payments later this year in August, citing a stronger recovery in the second quarter.
For the six months ended 31 December, pre-tax profit fell 78% to £21.1 million year-on-year as net fees slipped 24% to £422.8 million.
Net fees in Germany, the company's biggest market, fell 26%, with operating profit down 76% as the pandemic hurt performance.
'Finally, with recovery in fees and our profits accelerating in Q2, this provides us with confidence to resume paying core dividends at our full-year results in August, the company said.
'We have also identified £150 million of surplus capital, which we also intend to return to shareholders in phases via special dividends, again commencing at our results in August,' it added.
Story provided by StockMarketWire.com
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