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View All NewsPageGroup 2017 revenue increases 10% in constant currency
International specialist recruitment firm PageGroup plc reported full-year 2017 revenue rose 9.8% in constant currency. The increase as reported was 14.7%.
| (£ thousands) | 2017 | 2016 | % change | Constant currency % | 2017 (US$ thousands) |
| Revenue | £1,371,534 | £1,196,125 | 14.7% | 9.8% | $1,850,364 |
| Gross profit | £711,568 | £621,034 | 14.6% | 9.8% | $959,991 |
| Gross margin | 51.9% | 51.9% | |||
| Profit for the year | £83,080 | £72,096 | 15.2% | $112,085 |
PageGroup announced 22 countries had record years, with strong gross profit performances in many markets. Europe, Middle East and Africa — which comprises 47% of the group — posted the strongest regional gross profit growth.
Revenue by geography
| (£ thousands) | 2017 | 2016 | % change | 2017 (US$ thousands) |
| Europe, Middle East and Africa | £675,983 | £538,403 | 25.6% | $911,982 |
| United Kingdom | £312,915 | £324,548 | -3.6% | $422,160 |
| Asia Pacific | £110,602 | £103,979 | 6.4% | $149,215 |
| Americas | £146,346 | £123,503 | 18.5% | $197,438 |
Quote
“In 2018 we will continue to invest in our ‘Large High Potential Markets,’ as well as in markets with favorable trading conditions,” CEO Steve Ingham said. “However, we remain cautious in several markets as we progress through the year: primarily in the UK, where we will focus on protecting margins; in Australia, where we have invested in headcount and a new office in Canberra; and in Brazil, which remains challenging, despite a stronger performance in the fourth quarter.”
Revenue by segment
| (£ thousands) | 2017 | 2016 | % change | 2017 (US$ thousands) |
| Accounting and financial services | £559,480 | £511,449 | 9.4% | $754,806 |
| Legal, technology, HR, secretarial and other | £337,857 | £294,972 | 14.5% | $455,810 |
| Engineering, property & construction, procurement & supply chain | £290,830 | £227,163 | 28.0% | $392,365 |
| Marketing, sales and retail | £183,367 | £162,541 | 12.8% | $247,384 |
Share price and market cap
Shares in PageGroup plc fell 2.48% to £510.50 as of 4:38 p.m. GMT today. The company had a market cap of £1.58 billion.