PageGroup plc (MPGPF.PK,PAGE.L), a recruitment consultancy company, reported gross profit of 194.8 million pounds in the second quarter, down 13.1% from 224.2 million pounds in the prior year. Quarterly gross profit declined 10.5% in constant currencies.
In light of ongoing macroeconomic uncertainty, temporary recruitment declined by 8.2%, continuing to outperform permanent placements, which saw an 11.3% drop, as clients increasingly favored flexible staffing solutions—a trend consistent with the first quarter.
During the second quarter, we reduced fee earner headcount by 133 (a 2.5% decrease), primarily in Europe. Productivity, measured by gross profit per fee earner, was down 3% year-on-year. This decline was driven by lower gross profit, though partially mitigated by the reduction in headcount.
In the second quarter, non-operational headcount was reduced by 61 (a 3.2% decrease), reflecting efficiency improvements following the completion of our Shared Services Centre (SSC) transition from Singapore to Kuala Lumpur.
The company currently expects 2025 operating profit to be broadly in line with current market consensus of about 22 million pounds.
The company will issue its results for the first-half of 2025 on 12 August 2025.
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June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.