PageGroup plc, a UK-based staffing firm with global operations, reported revenue rose 28.1% year over year in constant currency in the first six months of the year to June 30.

“This performance was achieved despite the backdrop of macroeconomic and geopolitical uncertainty as well as continued Covid-19 restrictions in certain markets,” CEO Steve Ingham said.

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Ingham noted gross profit per fee earner — the company’s measure of productivity — rose 9.2% year over year in the first half. It reached a record level of £82.8 million (US$100.7 million).

“The group continued to benefit from favorable trading conditions, including wage inflation and increased fee rates resulting from the high demand and short supply of candidates in addition to a shorter time-to-hire facilitated by video interviewing and investments in new systems,” he said.

Total headcount at PageGroup rose 10.6% to 8,668 at the end of June.

Revenue by geography

PageGroup reported Americas gross profit rose 44.1% in constant currency to £94.2 million (US$114.5 million) in the first half.

Looking at just the company’s US operations, gross profit rose 43%. Property and construction, PageGroup’s largest discipline in the US, rose 53%.

In addition, the US also saw strong growth in technology and in healthcare and life sciences, according to the company.

Guidance

“Looking forward, we recognize the heightened degree of global macroeconomic and geopolitical uncertainty, particularly with regards to increasing inflation around the world,” Ingham said. “In July, we noted a slight slowing in time-to-hire in some of our markets, and we continue to closely monitor our forward-looking KPIs.”

Expectations for operating profit for the full year 2022 remain at £206 million (US$248.5 million).

Share price and market cap

Shares in PageGroup closed down 7.22% to £419.00 (US$505.47) in London today; shares were 8.55% above their 52-week low, according to FT.com. The company had a market cap of £1.48 billion (US$1.79 billion).