|
Hays PLC on Wednesday said it has sold its operations in six European countries with plans to offload a further seven businesses as it looks to improve financial performance. In response, shares in the London-based staffing provider rose 1.9% to 36.46 pence each in London on Wednesday morning but are 49% lower over the last 12 months. The stock has struggled amid the economic uncertainty caused by tariffs and the Middle East war. On Wednesday, the recruiter said it has sold its operations in the Czech Republic, Denmark, Hungary, Luxembourg, Romania and Sweden to private equity investor Meraki Capital for around £4 million in net cash proceeds. The FTSE 250 listing said the deal will result in a modest non-cash loss on disposal in the second half of financial 2026. Hays is also exploring options for its businesses in Belgium, Brazil, Greater China, Malaysia, the Netherlands, Singapore and the UAE. The 13 countries involved are expected to generate broadly break-even pre-exceptional operating profit on around £85 million of net fees in the 12 months to June 30. The move forms part of its strategy to focus on its remaining 16 core markets and build scale in higher-performing countries, Hays said. Chief Executive Mark Dearnley said: ‘Reshaping our portfolio to provide a sharper focus and build scale in high performing and high potential markets remains a key strategic priority for Hays.’ Dearnley became CEO in May, having taken up the interim CEO position in late February. Prior to that he was the company’s chief digital and technology officer. Copyright 2026 Alliance News Ltd. All Rights Reserved.
|
