Hays plunges deeper into the red
The troubled Hays group has plunged deeper into the red with £628.4m (t892.2m) in write-offs and charges tied in to its long-term plan to focus on recruitment.
Most of the charges are attributed to the write-downs of the support services group’s document storage and logistics arms, both of which are for sale.
Hays has also said its UK Mail business, which has seen its operating profits fall from £44m (€62.5m) in 2002 to £33.2m (€47.1m) in 2003, will not be part of the group in the longer term. But it has not started the process of selling this business yet.
Hays made an overall loss of £476m (€676m) before tax.
