Shares in Hays Plc rose in London trading on Wednesday following confirmation that the recruitment specialist has completed the sale of operations in six European countries to Meraki Capital.
The company said the transaction - finalised on June 16 - included businesses in the Czech Republic, Denmark and Hungary among the six countries sold. Hays stated the deal will produce a modest non-cash loss on sale and deliver net cash proceeds of approximately £4 million after working capital and other adjustments, the company said.
Alongside the completed sale, Hays confirmed it is reviewing its presence in seven other markets. The firm specifically named Belgium, the Netherlands, Singapore and the United Arab Emirates as jurisdictions where it is exploring strategic options. Combined with the six countries already sold, Hays said the 13 markets under review recorded an exceptional operating profit against 85 million in net fees in the 12 months to June 30, 2026.
The company said it has been actively reshaping its country portfolio for the past year and plans to concentrate on a remaining core of 16 countries going forward. In a company statement, chief executive Mark Dearnley said the Board believes Meraki Capital will be an excellent long-term owner and will provide a strong platform to support future growth for employees and customers.
Dearnley added that the reshaping of the portfolio is intended to sharpen Hays' focus and to build scale in markets identified as high performing or high potential. He said the moves will preserve continuity for both businesses and employees in the affected markets, with operations continuing to support customers locally. Hays and Meraki Capital also intend to maintain a relationship to support continued collaboration across the countries involved.
The transaction and the ongoing review of additional markets come as Hays looks to reconfigure its international footprint while concentrating resources on a smaller group of core markets. The company did not provide detail on the identity of the three other countries included in the six-country sale, nor did it disclose a timetable for decisions in the additional seven markets under review.