|
PageGroup PLC on Monday hailed a ‘good performance’ in its second quarter, helped by growth growth in the Asia Pacific and Americas regions. Shares in the company jumped 11% to 143.20 pence each in London on Monday morning. The Weybridge, Surrey-based recruiter said gross profit rose 1.3% in the second quarter of 2026 to £197.6 million from £195.2 million a year prior. At constant currency, it declined 0.2%. Analysts at Panmure Liberum said consensus was for a 5% constant currency decline. ‘The group produced a good performance in Q2, despite ongoing challenging market conditions. We saw continued growth in Asia Pacific and the Americas, as well as a return to growth in Q2 in Southern Europe.’ Chief Executive Officer Nicholas Kirk said. PageGroup noted around 50% of its units were in growth during the second quarter of the year. ‘However, trading remained more challenging across France, Northern Europe and the UK,’ Kirk added. For the whole of the first half, gross profit fell 1.1% on-year to £385.2 million from £389.7 million a year prior. At constant currency, it was down 2.4%. ‘We have a flexible cost base through our fee earner headcount, which adjusts naturally to market conditions. Alongside this, we continue to control the cost base tightly and have undertaken various programmes since the launch of our new strategy to manage it in light of the tougher market conditions,’ Kirk added. ‘Whilst we have seen improvement and signs of a normalisation in trading in a number of our markets, there remains a high degree of uncertainty in the outlook for the rest of the year. We have a highly diversified and adaptable business model, a strong balance sheet and a cost base that is under continuous review.’ PageGroup expects 2026 operating profit to be in line with company compiled consensus of £28 million. It would represent a rise of 34% from £20.9 million in 2025. In 2025, operating profit had slumped 60%. PageGroup announces half-year results on August 6. Copyright 2026 Alliance News Ltd. All Rights Reserved.
|
