REG - Hays PLC - Half Yearly Report <Origin Href="QuoteRef">HAYS.L</Origin> - Part 2
25/02/2015 07:01
- Part 2: For the preceding part double click ID:nRSY7756Fa
3 0.3 0.3 0.5
Finance cost 3 (4.5) (4.5) (8.5)
Profit before tax 77.3 62.5 132.3
Tax 4 (25.9) (21.9) (46.3)
Profit from continuing operations after tax 51.4 40.6 86.0
Profit from discontinued operations - - 4.9
Profit attributable to equity holders of the parent Company 51.4 40.6 90.9
Earnings per share from continuing operations
- Basic 6 3.64p 2.90p 6.13p
- Diluted 6 3.59p 2.86p 6.00p
Earnings per share from continuing and discontinued operations
- Basic 6 3.64p 2.90p 6.47p
- Diluted 6 3.59p 2.86p 6.34p
(1) Net fees comprise turnover less remuneration of temporary workers and other recruitment agencies.
Condensed Consolidated Statement of Comprehensive Income
Six months to Six months to Year to
31 December 31 December 30 June
2014 2013 2014
(In £'s million) (unaudited) (unaudited) (audited)
Profit for the period 51.4 40.6 90.9
Items that will not be reclassified subsequently to profit or loss:
Actuarial remeasurement of defined benefit pension schemes (54.5) (34.1) (21.8)
Tax relating to components of other comprehensive income 11.1 5.6 1.2
(43.4) (28.5) (20.6)
Items that may be reclassified subsequently to profit or loss:
Currency translation adjustments (7.8) (14.6) (21.4)
Mark to market valuation of derivative financial instruments 0.1 0.3 0.4
Other comprehensive income for the period net of tax (51.1) (42.8) (41.6)
Total comprehensive income for the period 0.3 (2.2) 49.3
Attributable to equity shareholders of the parent Company 0.3 (2.2) 49.3
Condensed Consolidated Balance Sheet
31 December 31 December 30 June
2014 2013 2014
(In £'s million) Note (unaudited) (unaudited) (audited)
Non-current assets
Goodwill 206.2 172.7 170.6
Other intangible assets 32.6 40.4 36.5
Property, plant and equipment 17.1 19.6 17.6
Deferred tax assets 44.8 37.7 35.1
300.7 270.4 259.8
Current assets
Trade and other receivables 533.6 528.6 579.3
Cash and cash equivalents 56.5 45.4 48.0
590.1 574.0 627.3
Total assets 890.8 844.4 887.1
Current liabilities
Trade and other payables (394.9) (378.4) (457.7)
Current tax liabilities (23.2) (35.8) (18.6)
Bank loans and overdrafts (0.7) (0.6) (0.7)
Provisions 8 (3.1) (3.7) (3.4)
Derivative financial instruments - (0.3) (0.1)
(421.9) (418.8) (480.5)
Non-current liabilities
Bank loans (135.0) (150.0) (110.0)
Trade and other payables (8.2) - -
Retirement benefit obligations 7 (92.9) (61.9) (43.9)
Provisions 8 (12.0) (17.9) (12.0)
(248.1) (229.8) (165.9)
Total liabilities (670.0) (648.6) (646.4)
Net assets 220.8 195.8 240.7
Equity
Called up share capital 14.7 14.7 14.7
Share premium 369.6 369.6 369.6
Capital redemption reserve 2.7 2.7 2.7
Retained earnings (206.6) (246.3) (197.7)
Cumulative translation reserve 25.6 40.2 33.4
Other reserves 14.8 14.9 18.0
Total shareholders' equity 220.8 195.8 240.7
Condensed Consolidated Statement of Changes in Equity
For the six months ended 31 December 2014
(In £'s million) Share capital Share premium account Capital redemption reserve Retained earnings Cumulative translation reserve Other reserves Total
At 1 July 2014 14.7 369.6 2.7 (197.7) 33.4 18.0 240.7
Currency translation adjustments - - - - (7.8) - (7.8)
Mark to market valuation of derivative financial instruments - - - - - 0.1 0.1
Remeasurement of defined benefit pension schemes - - - (54.5) - - (54.5)
Tax relating to components of other comprehensive income - - - 11.1 - - 11.1
Net (expense)/income recognised in other comprehensive income - - - (43.4) (7.8) 0.1 (51.1)
Profit for the period - - - 51.4 - - 51.4
Total comprehensive income/(expense) for the period - - - 8.0 (7.8) 0.1 0.3
Dividends paid - - - (25.5) - - (25.5)
Share-based payments - - - 8.6 - (3.3) 5.3
At 31 December 2014 (unaudited) 14.7 369.6 2.7 (206.6) 25.6 14.8 220.8
For the six months ended 31 December 2013
(In £'s million) Share capital Share premium account Capital redemption reserve Retained earnings Cumulative translation reserve Other reserves Total
At 1 July 2013 14.7 369.6 2.7 (244.3) 54.8 18.9 216.4
Currency translation adjustments - - - - (14.6) - (14.6)
Mark to market valuation of derivative financial instruments - - - - - 0.3 0.3
Remeasurement of defined benefit pension schemes - - - (34.1) - - (34.1)
Tax relating to components of other comprehensive income - - - 5.6 - - 5.6
Net (expense)/income recognised in other comprehensive income - - - (28.5) (14.6) 0.3 (42.8)
Profit for the period - - - 40.6 - - 40.6
Total comprehensive (expense)/income for the period - - - 12.1 (14.6) 0.3 (2.2)
Dividends paid - - - (23.5) - - (23.5)
Share-based payments - - - 9.4 - (4.3) 5.1
At 31 December 2013 (unaudited) 14.7 369.6 2.7 (246.3) 40.2 14.9 195.8
For the year ended 30 June 2014
(In £'s million) Share capital Share premium account Capital redemption reserve Retained earnings Cumulative translation reserve Other reserves Total
At 1 July 2013 14.7 369.6 2.7 (244.3) 54.8 18.9 216.4
Currency translation adjustments - - - - (21.4) - (21.4)
Mark to market valuation of derivative financial instruments - - - - - 0.4 0.4
Remeasurement of defined benefit pension schemes - - - (21.8) - - (21.8)
Tax relating to components of other comprehensive income - - - 1.2 - - 1.2
Net (expense)/income recognised in other comprehensive income - - - (20.6) (21.4) 0.4 (41.6)
Profit for the year - - - 90.9 - - 90.9
Total comprehensive income/(expense) for the year - - - 70.3 (21.4) 0.4 49.3
Dividends paid - - - (35.1) - - (35.1)
Share-based payments - - - 10.1 - (1.7) 8.4
Deferred tax on share-based payment transactions - - - 1.3 - - 1.3
Other share movements - - - - - 0.4 0.4
At 30 June 2014 (audited) 14.7 369.6 2.7 (197.7) 33.4 18.0 240.7
Condensed Consolidated Cash Flow Statement
Six months to Six months to Year to
31 December 31 December 30 June
2014 2013 2014
(In £'s million) Note (unaudited) (unaudited) (audited)
Operating profit from continuing operations 81.5 66.7 140.3
Adjustments for:
Exceptional items (0.1) (0.1) (0.2)
Depreciation of property, plant and equipment 4.4 4.9 9.2
Amortisation of intangible fixed assets 7.0 7.0Recent news on Hays
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