Hays sees earnings at top end of estimates

(Sharecast News) - Recruiter Hays said it expected full-year earnings to be at the top end of consensus as the pace of decline in fee income slowed in the fourth quarter. The company expect FY26 pre-exceptional operating profit will be at the top of the £37.0-46.0m consensus range.

"Although we have limited forward visibility, we are mindful of heightened global macro-economic uncertainty and expect near term market conditions to remain challenging, with greater resilience in temp & contracting than in permanent," the company said in a trading update on Friday.

Like-for-like group net fees in the three months to June 30 fell 5% year on year. On an actual basis, net fees decreased 4% due to a weakening of sterling versus the euro and Australian dollar partially offset by cost-saving moves to close operations in four countries and divest in the Czech Republic, Denmark, Hungary, Luxembourg, Romania, and Sweden.

Reporting by Frank Prenesti for Sharecast.com