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View All NewsPageGroup revenue up for first half of year except in UK
International specialist recruitment firm PageGroup plc reported revenue rose 16.9% in constant currency to £673.1 million (US$872.9 million) in the six months ended June 30. The firm posted growth in the Americas; Asia Pacific; and in Europe, Middle East and Africa, which excludes the UK, where revenue fell as Brexit uncertainty affects clients’ decision-making.
| (£ thousands) | H1 2017 | H1 2016 | % change | Constant currency % | H1 2017 (US$ thousands) |
| Revenue | £673,146 | £575,891 | 16.9% | 7.7% | $872,982.9 |
| Gross profit | £351,987 | £299,151 | 17.7% | 8.3% | $456,481.4 |
| Gross margin | 52.3% | 51.9% | - | ||
| Profit for the period | £40,912 | £33,773 | 21.1% | - | $53,057.5 |
Gross margin improved, and the company reported gross profit rose 13% in North America, though the company noted that conditions remained challenging in the New York financial services market.
Revenue by geography
| (£ thousands) | H1 2017 | H1 2016 | % change | H1 2017 (US$ thousands) |
| Europe, Middle East and Africa | £323,092 | £254,341 | 27.0% | $419,008.3 |
| United Kingdom | £160,675 | £166,655 | -3.6% | $208,374.6 |
| Asia Pacific | £116,872 | £97,562 | 19.8% | $151,567.8 |
| Americas | £72,507 | £57,333 | 26.5% | $94,032.2 |
Quote
“We experienced some improved macroeconomic conditions, particularly in Asia (exSingapore), Continental Europe, and Latin America (exBrazil), which helped drive growth in the first half,” said CEO Steve Ingham. “However, challenging market conditions continued in some of our larger markets, including Brazil, Singapore and the UK.”
Share price and market cap
Shares in PageGroup plc closed down 1.50% to £492.06, according to Google Finance. The company had a market cap of £1.61 billion.