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Fiscal 2023 Pretax Profit Declines for Hays

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Andrew R. Michaud

• August 24, 2023

Hays, the U.K. recruitment company, reported a decrease in pretax profit for fiscal 2023 due to higher expenses, the issuance of a special dividend, and the appointment of a new CEO.

Financial Performance

For the year ending June 30, pretax profit amounted to £192.1 million ($244.4 million), compared to £204.3 million the previous year. Operating profit also declined from £210.1 million to £197.0 million. However, the company's turnover saw a positive change, increasing from £6.59 billion to £7.58 billion.

Dividend Update

The board of directors has approved a 5% dividend increase, resulting in a payout of 3.00 pence per share. Additionally, Hays has announced a special dividend of 2.24 pence per share, which amounts to a £35.6 million cash return for shareholders.

New CEO Appointment

In a separate announcement, Hays revealed the appointment of Dirk Hahn as the new chief executive officer, effective from September 1. Dirk Hahn currently serves as managing director of Hays Germany and Central & Eastern Europe, Middle East & Africa, and brings over 20 years of experience with the company.