LONDON (dpa-AFX) - Hays PLC (HAS.L) reported that, in the fourth quarter ended 30 June 2016, net fees increased 12% on a headline basis and 8% on a like-for-like basis against the prior year. The Group said the difference between actual and like-for-like growth was primarily the result of the appreciation of the Euro and the Australian Dollar against Sterling. For the financial year ended 30 June 2016, the Group expects operating profit to be ahead of current market expectations, at approximately 180 million pounds.
In the United Kingdom & Ireland, which represented 31% of Group net fees, net fees decreased 4% net of a positive working day impact of approximately 1%.
The Group said its cash performance in the quarter was excellent, underpinned by strong credit control and working capital management and resulting in a closing net cash position of approximately 40 million pounds.
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