logo
Plus   Neg
Share
Email

PageGroup Slips To Loss In H1; Revenue Down 20.2%

PageGroup plc (MPGPF.PK,PAGE.L) reported first-half loss before tax of EUR 0.8 million compared to a profit of EUR 74.6 million last year.

On a per share basis, loss was 0.5p per share compared to a profit of 16.8p per share reported a year ago, reflecting the significant reduction in profits caused by the challenging trading conditions due to COVID-19.

Revenue for the period declined 20.2% to EUR 655.0 million from EUR 820.5 million generated in the same period of last year.

Commenting, Steve Ingham, Chief Executive Officer, said, "We took decisive management actions on costs to protect near-term profitability, whilst at the same time investing in our platform to ensure we emerge from this period in a position of strength. We also focused on ensuring we retained a strong cash position, which we achieved, and we have access to sizeable borrowing
facilities, if required. However, trading conditions remain uncertain and, as such, we have taken the decision to suspend our dividend policy. It is our intention to reinstate shareholder returns when conditions improve."

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Hongkong Sun Rise Trading Ltd. has recalled about 151,400 units of Kobalt Cordless Electric chainsaws and about 106,520 units of Kobalt Cordless Electric pole saws for possible laceration hazard, according to two separate statements issued by the U.S. Consumer Product Safety Commission. These include 1,400 chainsaws and 120 pole saws sold in Canada. Branded food company Hormel Foods Corp. (HRL) announced Friday that its Hormel Black Label Breakfast Food Truck will hit the road with free sample event of the popular brand's new Hormel Black Label Oven-Baked Egg Bites. The samples come in three variants - with Bacon, with Chorizo and with Bacon and... United Airlines has rolled out an interactive online "Map Search" feature for its customers in collaboration with search giant Google. The new feature is powered by Google Flight Search Enterprise Technology. United is claimed to be the first airline in the U.S. to add this feature. The new feature, available on United.com, allows customers to easily search, compare and purchase flight tickets.
RELATED NEWS
Follow RTT