PageGroup Q3 Group Gross Profit Up 4.2% - Quick Facts

PageGroup plc (MPGPF.PK, PAGE.L), a specialist professional recruitment company, reported that its third quarter gross profit was 216.7 million pounds, up 2.1% in constant currencies and 4.2% in reported rates. In constant currencies, there was similar growth in both Michael Page and Page Personnel.

Steve Ingham, Chief Executive Officer, said, "The majority of the Group's regions were impacted by increased macro-economic and political uncertainty in Q3. Consequently, Group gross profit growth slowed to 2.1% in constant currencies from 7.4% in Q2."

In EMEA, quarterly gross profit grew 5.6% to 101.5 million pound in constant currency, down from growth of 9.0% in the second-quarter as increased economic uncertainty impacted market confidence across the region.

In Asia Pacific, quarterly gross profit declined 8.1% to 44.1 million pounds in constant currency. Greater China declined 24%, against a tough comparator of 31%.

In the Americas, gross profit grew 13.0% to 37.3 million pounds in constant currency.

The gross profit in the U.K. declined 4.1%, with heightened Brexit related uncertainty now impacting candidate and client confidence at all levels.

The company currently expects 2019 operating profit to be in the range of 140 million pounds to 150 million pounds.

The company said it will continue to focus on driving profitable growth, while progressing its strategic investments towards Vision of 10,000 headcount, 1 billion pounds of gross profit and 200 million pounds - 250 million pounds of operating profit.

For comments and feedback contact: editorial@rttnews.com

Business News

Follow RTT