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Hays plc

Hays plc provides professional and skilled recruitment services in Germany, the United Kingdom, Ireland, Australia, New Zealand, and internationally. Its offerings include qualified, professional, and skilled recruitment, as well as temporary, contracting, and permanent recruitment and workforce solutions. Founded in 1968, the company is based in London, the United Kingdom.

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HAS.LSE

Meraki Capital Launches Tessero Across Six European Markets

Meraki Capital has launched Tessero, a new European specialist recruitment group created from the six former Hays plc businesses it acquired earlier this summer. The launch spans Sweden, Denmark, Hungary, Romania, Luxembourg, and Czechia, bringing together six established recruitment businesses under one independent European brand. This follows one of the most significant transactions in Meraki Capital's history, with a major transition programme completed across all six countries within weeks. The new group employs 130 people, with existing country leadership teams remaining in place. Gary Elden OBE, CEO of Meraki Capital and Director of Tessero, emphasized that Tessero combines international scale with local autonomy, aiming to leverage established client relationships and specialist expertise. Tessero joins Meraki Capital's portfolio of recruitment businesses, including HW3, Magnus, and SERT, but operates independently with its own brand and growth strategy.
Meraki Capital · Capital · Positive Meraki Capital completed one of its most significant transactions and launched Tessero, expanding its recruitment portfolio across six European markets.
Tessero · Capital · Positive Tessero is launched as a new European specialist recruitment group formed from six acquired businesses, with 130 employees and established client relationships.
HAS.LSE · Capital · Neutral Hays plc sold its six European businesses to Meraki Capital earlier this summer, a divestment transaction now culminating in the Tessero launch.
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HAS.LSE▲2

Vodafone gains help FTSE 100 close higher amid calmer trading

The FTSE 100 closed higher on Friday, lifted by a 13% surge in Vodafone shares after investment vehicle Vega agreed to acquire Emirates Telecommunications' 16.2% stake for £4.4 billion, making it the telecom firm's largest shareholder. The blue-chip index rose 24.84 points, or 0.2%, to 10,497.29, while the FTSE 250 added 0.6% and the AIM All-Share edged up 0.2%. Vega, owned by the Xavier Niel family, said it has no intention of making a takeover offer but JPMorgan analysts noted Niel is not known as a passive investor. St James's Place slumped 8.6% after a report that a large partner firm plans to exit, while Hays jumped 20% on an upbeat profit forecast and easyJet soared 14% after agreeing to a £5.7 billion takeover proposal from Apollo Management that tops a rival bid.
EZJ.LSE · Capital · Positive EasyJet agreed to a £5.7 billion takeover proposal from Apollo Management, topping a rival bid.
HAS.LSE · Capital · Positive Hays jumped 20% on an upbeat profit forecast.
STJ.LSE · Capital · Negative St James's Place slumped 8.6% after a report that a large partner firm plans to exit.
VOD.LSE · Capital · Positive Vodafone shares surged 13% after Vega agreed to acquire a 16.2% stake for £4.4 billion, becoming largest shareholder.
Emirates Telecommunications Group · Capital · Positive Emirates Telecommunications sold its 16.2% stake in Vodafone to Vega for £4.4 billion.
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European Shares Subdued Amid Rising Middle East Tensions

European stocks were subdued on Friday amid AI valuation concerns and tit-for-tat strikes between Iran and the U.S. The pan-European STOXX 600 was marginally lower at 640.66 after rising 0.8 percent on Thursday. The German DAX, France's CAC 40 and the U.K.'s FTSE 100 all traded marginally lower. Careium AB shares soared 11 percent after the Swedish care technology company reported a 24 percent rise in second-quarter net sales. Vodafone jumped 11 percent after UAE telecoms operator E& announced it would sell its entire stake in the British carrier to Vega. No-frills airline EasyJet skyrocketed 14 percent after agreeing in principle to a £5.7 billion takeover proposal from U.S. private equity giant Apolo Global Management. Recruitment specialist Hays surged 12 percent after saying its annual operating profit would land at the top of analyst forecasts.
EZJ.LSE · Capital · Positive Agreed in principle to a £5.7 billion takeover proposal from Apolo Global Management.
HAS.LSE · Capital · Positive Said annual operating profit would land at the top of analyst forecasts.
VOD.LSE · Capital · Positive UAE telecoms operator E& announced it would sell its entire stake to Vega.
Careium AB · Demand · Positive Reported a 24 percent rise in second-quarter net sales.
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Hays Stock Sees Split Analyst Revisions After Price Target Cuts And Downgrade

Hays is back in focus as analysts refresh their models and reset price targets to reflect a more cautious revenue outlook and updated risk assumptions. Citi analyst Marc downgraded the stock, highlighting concerns around near-term earnings power compared with where the stock is currently trading. RBC Capital trimmed its Hays price target by 5 GBp, reflecting a more cautious stance on the company's risk and reward trade-off. The fair value estimate for Hays remains unchanged at £0.41, while revenue growth assumption moved from a decline of 2.17% to a decline of 2.78% and profit margin assumption moved from 1.07% to 1.09%.
HAS.LSE · Capital · Negative Analyst downgrade and price target cuts reflecting cautious revenue outlook and risk assumptions.
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