Hays reports 3 percent fee decline as weak hiring weighs on Hays stock

Published on 10/18/2026 at 13:54 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Hays reported a 3.00 percent net-fee decline for the first quarter on October 12, 2026. Permanent fees fell 7.00 percent, pressuring Hays stock.

Quarterly pressure and recovery signals

Hays reported a 3.00 percent net-fee decline for the first quarter on October 12, 2026.
Deutsche Bank set a GBp 95.00 target and RBC set GBp 85.00 targets on October 13, 2026.
Hays scheduled its AGM for November 18, 2026, and dividend payment for November 26, 2026.

Makroaufnahme eines gedruckten Lebenslaufs mit Stift und Brille im Hintergrund — Hays plc GB0004161021 fokussiert makroskopische Detailaufnahme eines gedruckten Lebenslaufs mit feiner Papierstruktur, Illustration mit AI erstellt.

Hays (ISIN GB0004161021) reported a 3.00 percent like-for-like decline in group net fees for the first quarter of fiscal 2027, with permanent recruitment fees down 7.00 percent. Reuters reported the figures on October 12, 2026, alongside a 14th consecutive quarterly decline.

Hiring weakness remains concentrated

The first-quarter update showed a split by recruitment type. Temporary and contracting net fees declined 1.00 percent, while permanent hiring fees fell 7.00 percent. The result was better than the 4.00 percent decline expected by analysts, according to Reuters.

Regional performance also varied. Net fees rose 8.00 percent in the United States, 12.00 percent in Canada, 27.00 percent in China and 2.00 percent in Japan, while Germany declined 6.00 percent and the United Kingdom declined 5.00 percent in the quarter ended September 30, 2026.

What do the targets imply?

Analyst support strengthened after the update. Proactive reported on October 13, 2026, that RBC Capital Markets rated Hays Outperform with a GBp 85.00 target, while Deutsche Bank rated it Buy with a GBp 95.00 target. RBC also kept adjusted earnings per share forecasts at GBp 1.80 for fiscal 2027 and GBp 4.26 for fiscal 2028.

Three dated signals for Hays

Hays published fiscal 2026 results on August 20, 2026, reporting GBP 905.5 million in group net fees and GBP 48.6 million in operating profit. On October 12, 2026, its first-quarter update showed group net fees down 3.00 percent like for like. On October 13, 2026, RBC and Deutsche Bank published the GBp 85.00 and GBp 95.00 targets through Proactive.

Next dates for shareholders

Hays lists November 18, 2026, for the results of its annual general meeting and November 26, 2026, for payment of its core dividend on its investor-relations page. The same page gives October 15, 2026, as the ex-dividend date and October 16, 2026, as the record date. Hays also identifies fiscal 2026 group net fees of GBP 905.5 million and operating profit of GBP 48.6 million.

Cost savings carry the recovery case

Hays delivered GBP 10 million of structural cost savings in the first quarter against a GBP 50 million target for fiscal 2027, according to Proactive. The combination of falling permanent fees and improving temporary activity leaves cost execution and regional recovery as the key measures for the next update.