Updates

Hays - Q4 net fee income growth beats expectations

September 2015

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Recruitment firm Hays ended FY’15 on a high note with like-for-like net fee income growing 9% in Q4, which was ahead of expectations and an acceleration from 7% in March. Divisionally UK / Ireland and Continental Europe & Rest of World each increased 9% while Asia Pacific rose 8%. Permanent recruitment revenues accelerated from +11% in Q3 to +14% in Q4.Net debt was just £30m (against forecast of £50m) due to strong working capital management and increases the likelihood of a special dividend before long.The only bugbear was adverse exchange rate movements, causing Jefferies to downgrade eps forecasts by 3% to 8.7p for year ended June ’16 with ’17 clipped 0.3p to 11p.Tipped at 155p i ...

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Howden Joinery - Accelerating investment pegs back shares

One Savings Bank / Aldermore

Hays (November 2016)

Hays - Director buys 50,000 shares at 116p (April 2016)

Hays - UK & Ireland grow profit by 75% (October 2015)

Hays Recruitment firm forecast to increase eps 154% by 2019 (April 2015)

With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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