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Hays forecasts faster profit recovery

by LLB Editor
26th Aug 21 9:37 am

A key problem facing many employers is the difficulty in finding skilled staff. While these shortages are bad news for business as a whole and for the economy, they aren’t necessarily bad news for the companies whose role it is to track down the right people for a job.

“This is evident in results from recruiter Hays where it is benefiting from being able to charge top dollar for finding good candidates,” says AJ Bell’s Danni Hewson.

“This is helping profit to get back to, and even exceed, pre-pandemic levels faster than expected. This in turn is underpinning the resumption of ordinary and special dividends – music to shareholders’ ears.

“This scenario does put Hays under some pressure to deliver as proving its worth through a difficult period could yield significant long-term benefits, helping the company become even more embedded in firms’ recruitment processes.

“On the flipside if Hays is unable to solve employers’ skills shortages problem then its relevance and credibility could take a knock.

“Discretionary costs around travel and entertaining clients have been pushed lower by the pandemic and it will be interesting to see to what extent these come back.”


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