Analyst Views: Is Hays back on the path to growth?

 
Marion Dakers

DAVID O’BRIEN SHORE CAPITAL

“We note the strong reduction in net debt, to £105m overall, from £133m at the beginning of the year and further shrinkage anticipated in 2014 by us and management. We are placing our forecasts under review, expecting to increase adjusted pre-tax profit expectations by mid-single digit percentage.

JUSTIN JORDAN JEFFERIES

“In our view, outlook comments have become slightly more optimistic in tone, with continental Europe and the rest of the world a key potential positive swing factor in 2014 given recent improvements in macroeconomic data.

WILLIAM VANDERPUMP UBS

“Markets are mixed but ‘broadly stable’ so far in the first quarter, with temporary still ahead of permanent and client confidence (demand) generally ahead of candidates (supply). We would not expect a big improvement on the one per cent like-for-like fee growth seen in the fourth quarter.