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View All NewsPageGroup 2016 revenue up 3.6% in constant currency
International specialist recruitment firm PageGroup plc reported full-year 2016 revenue rose 3.6% in constant currency at prior-year rates. The increase as reported was 12.3%.
| (£ thousands) | 2016 | 2015 | % change | Constant currency % | 2016 (US$ thousands) |
| Revenue | £1,196,125 | £1,064,945 | 12.3% | 3.6% | $1,471,425 |
| Gross profit | £621,034 | £556,105 | 11.7% | 3.0% | $763,971 |
| Gross margin | 51.9% | 52.2% | |||
| Profit for the year | £72,096 | £66,208 | 8.9% | $88,690 |
PageGroup reported strong performances in Germany and Mexico were offset by difficult tradition conditions in Brazil, the US and greater China.
Revenue by geography
| (£ thousands) | 2016 | 2015 | % change | 2016 (US$ thousands) |
| Europe, Middle East and Africa | £538,403 | £421,310 | 27.8% | $662,322 |
| United Kingdom | £324,548 | £337,673 | -3.5% | $399,246 |
| Asia Pacific | £209,671 | £191,303 | 9.6% | $257,929 |
| Americas | £123,503 | £114,659 | 7.7% | $151,928 |
Quote
"Our businesses in Continental Europe, Australasia and Latin America, excluding Brazil, all performed well,” said CEO Steve Ingham. “In the UK, client and candidate confidence levels were impacted by the EU Referendum result, with activity levels reduced. Market conditions were also challenging in several of our other larger markets, particularly Brazil and financial services, notably in New York.”
Revenue by segment
| (£ thousands) | 2016 | 2015 | % change | 2016 (US$ thousands) |
| Accounting and financial services | £511,449 | £468,364 | 9.2% | $629,164 |
| Legal, technology, HR, secretarial and other | £294,972 | £253,456 | 16.4% | $362,863 |
| Engineering, property & construction, procurement & supply chain | £227,908 | £190,547 | 19.6% | $280,363 |
| Marketing, sales and retail | £161,796 | £152,578 | 6.0% | $199,035 |
Share price and market cap
Shares in PageGroup plc closed up 1.88% at £428.09, according to Google. The company had a market cap of £1.40 billion.