LONDON (dpa-AFX) - Hays Plc (HAS.L) reported that its first quarter Group net fees were significantly impacted by the pandemic and decreased by 29% on a like-for-like basis from prior year, and by 30% on an actual basis. The Group said the modest strengthening of Sterling versus most of its reporting currencies slightly reduced reported net fees. The Group noted that its net fee exit rate, down 26%, was modestly better than the overall net fee decline in the quarter.
Hays Plc has now exited all major government support schemes globally. The Group now anticipates trading in the first half of fiscal 2021 to be modestly profitable.
Net cash was approximately 350 million pounds as at 30 September 2020, excluding approximately 60 million pounds of short-term deferrals of tax payments.
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