Hays to pay special dividend as overseas fees offset UK dip

RECRUITMENT firm Hays has hailed a “milestone” year, declaring its first special dividend on the back of strong international fees, despite a steep fall in the UK market.

Hays’s UK business experienced a “marked step-down” after the referendum last June, with jobs in the private sector hit particularly hard.

Fees for the UK business in the year to June 30 fell by 7pc to £252.9m, despite what the firm called “modest signs of improvement” in the second half.

But more resilient international markets meant the company’s pre-tax profits for the year to June was £204.6m, and fees for the year stood at £954.6m, up 17.8pc on the previous period.

Germany overtook the UK in the fourth quarter to become its biggest market, and international markets now make up around three quarters of Hays’s fee income.

The company said its full-year dividend would be increased by 11pc to 3.22p per share, and it would pay a special dividend of 4.25p per share. Hays shares closed up 5.9pc at 183p.

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