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Hays PLC on Thursday said net fees remained under pressure in the first three months of the year although the downturn was a touch better than feared by City analysts. Shares in the London-based staffing provider rose 5.2% to 33.82 pence each in London on Thursday but have fallen 52% in the last 12 months. Net fees fell 7% in the three months to March, the third quarter of Hays’ financial year, or by 8% like-for-like. The slowdown was better than the 9% drop forecast by consensus cited by RBC Capital Markets. On a LFL basis, net fees fell 11% in Germany, 10% in UK & Ireland, 2% in Australia & New Zealand and by 6% in Rest of World. Temporary & contracting fees dipped 6% and permanent placements 12%. March net fee growth rate of minus 8% was in line with the quarter. Hays said it expects near term market conditions to remain challenging, with greater resilience in Temp & Contracting than in Permanent. Pre-exceptional operating profit is expected to be in line with market consensus expectations of £45.2 million, little changed from £45.6 million reported in the year to June 2025. Hays reported continued ‘strong progress’ with its structural cost savings programme with a further around £15 million per annum savings delivered in the quarter. It has now achieved £30 million per annum savings in financial 2026, progressing towards its target of £45 million per annum by financial 2029. As a result of the acceleration of the cost programme, Hays expects to incur an increased exceptional restructuring charge in the second half of the financial year. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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