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PageGroup quarterly profit hits record as markets outside UK grow
April 12, 2017 / 6:35 AM / 7 months ago

PageGroup quarterly profit hits record as markets outside UK grow

April 12 (Reuters) - British recruiter PageGroup reported a record first-quarter gross profit and said it saw growth in its markets outside the UK, where client and candidate confidence levels are constrained by uncertainty after Britain’s vote to leave the EU.

The company said gross profit grew 9.1 percent at constant currency to a record 170.3 million pounds ($212.7 million) in the three months ended March 31. Results were also supported by the timing of Easter, which falls in the second quarter this year.

PageGroup, which mainly finds candidates to fill permanent positions, reported a marginal fall in year-on-year UK gross profit to 36.4 million pounds, but the result still marked the region’s best performance in a year.

“There remain a number of uncertainties as we continue through 2017, including the impact of Brexit in the UK, elections in Europe and Brazil’s ongoing macro-economic challenges,” Chief Executive Steve Ingham said in a statement.

“Looking ahead, we will continue to focus on driving profitable growth, while being able to respond quickly to any changes in market conditions,” he added. ($1 = 0.8007 pounds) (Reporting by Esha Vaish in Bengaluru, editing by Louise Heavens)

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