StockMarketWire.com - Hays scrapped its final dividend after reporting a fall in annual profit on lower net fees, though the recruitment company said it had since seen a modest improvement amid easing lockdown restrictions. For the year ended 30 June, pre-tax profit fell 63% to £86.3m on-year as net fees slipped 12% to £996.2m. Growth slowed through H1, with fees down 2%, and H2 was heavily impacted by Covid-19, with Q4 down 34%. Germany, the company's biggest market, saw fees fall 13% and operating profit down 41%. 'Given macroeconomic uncertainty caused by the pandemic, and the fact we traded only at a broadly breakeven level of profitability in Q4, the Board is not proposing a final dividend for FY20,' the company said. 'While conditions remain tough, May-July fees were stable, and we are seeing modest signs of improvement in Perm. Temp markets are stable overall. c.80% of offices have now reopened,' it added.





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