Hays splits business to focus on core strengths

Personnel
group Hays has confirmed it will de-merge its mail business later this year to
concentrate on recruitment and HR.

The
company – which has more than 200 offices in the UK
and Ireland
– said its specialist recruitment arm helped lift annual operating profits by
13 per cent.

Hays
said that following the de-merger, it will focus exclusively on specialist
recruitment. Its mail business, DX, specialises in business-to-business mail
services in the UK
and Ireland,
delivering more than a million items a day.

Shareholders
in the FTSE 100 group will get stakes in two separately-listed companies as a
result of the move, which was first announced in June.

Chairman
Bob Lawson said: “The recovery that we began to experience in the first half
accelerated, justifying our continued investment in the business over the
recent downturn and in the current year.”

Hays
posted pre-tax profits of £147.7m in June.

By Mike Berry

 

 

 

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