Business Support Services

The Special Ones

  • Sectors : Business Support Services
  • Companies : PageGroup plc | Hays plc


Ratings and price correct at time of issue

Company Rating Date Previous Rating Date Closing Price
Hays plc OUTPERFORM 01/04/21 N/A N/A 150p
PageGroup plc OUTPERFORM 01/04/21 N/A N/A 475p


We see the UK staffing companies as key recovery plays and although the initial share price resurgence is behind them, we feel the next leg will come from the market’s focus on special dividends. Unlike the period following the Global Financial Crisis (GFC), these are likely to come quicker and be more sustainable over the cycle due to a significant improvement in balance sheet strength over the past decade. We initiate coverage on both Hays and PageGroup with an ‘Outperform’ recommendation.

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Apr 1 2021, 06:55 IST/BST