FINANCIAL INFORMATION

FY2013 FINANCIAL HIGHLIGHTS

  • Resilient operating profit performance due to firm cost control and selective investment approach
    - Second half operating profit 8% higher than the first half

  • UK & Ireland returned to profit; market stable
    - £12.1 million improvement in operating profit due to successful delivery of cost reduction programme
    - UK returned to year-on-year net fee growth in the second half

  • Strong 10%(1) net fee growth in Continental Europe & Rest of World where markets remained mixed
    - Germany up 13%(1), France up 1%(1), Canada up 31%(1) and Russia up 40%(1)
    - 13 countries delivered net fee growth of over 10%, 7 countries saw a decline in net fees

  • Asia Pacific net fees decreased 13%(1); Australia tough, market conditions in Asia subdued
    - Australia down 16%(1), with material step down in Resources & Mining activity during the year
    - Australia broadly sequentially stable in the second half
    - Asia up 4%(1) with improved rates of fee growth through the second half

  • Consultant headcount flat year-on-year reflecting our selective investment approach

  • Good cash performance, with 109% conversion of operating profit into operating cash flow(2)

  • Basic EPS down 6%(3), reflecting lower operating profit, higher net finance charge and higher effective tax rate

(1) LFL (like-for-like) growth represents organic growth of continuing operations at constant currency.
(2) Excludes exceptional cash cost of £0.6 million in 2013 and £7.0 million in 2012.
(3) Based on earnings per share from continuing operations only, excluding exceptional items.
(4) The underlying temp gross margin is calculated as temp net fees divided by temp gross revenue and relates solely to temp placements in
which Hays generates net fees and specifically excludes transactions in which Hays acts as agent on behalf of workers supplied by third
party agencies.

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