Daily News
View All NewsStaffing firm PageGroup reports Q4 gross profit up 13.8% across most geographies
UK-based staffing firm PageGroup reported fourth-quarter gross profit rose 13.8% in constant currency in a trading update in advance of full fourth-quarter results scheduled for release in March. PageGroup noted gross profit rose across all regions, except for the UK. However, the firm reported particularly strong growth in France, where gross profit rose 28%, as well as in its five markets rated as large with high potential, including Greater China, Germany, Latin America, South East Asia and the US.
US gross profit rose 21% while Greater China gross profit rose 15%.
Gross profit
| (£ millions) | Q4 2017 | Q4 2016 | % change | % change constant currency | Q4 2017 (US$ millions) |
| EMEA | £90.9 | £75.9 | 19.7% | 19.3% | $122.6 |
| Asia Pacific | £33.5 | £30.9 | 8.4% | 14.9% | $45.2 |
| UK | £32.9 | £33.8 | -2.8% | -2.8% | $44.4 |
| Americas | £25.1 | £22.7 | 11.0% | 18.8% | $33.9 |
| Total | £182.4 | £163.3 | 11.7% | 13.8% | $246.1 |
| Permanent | £136.1 | £122.5 | 11.1% | 13.6% | $183.6 |
| Temporary | £46.3 | £40.8 | 13.6% | 14.4% | $62.5 |
“Looking forward, we remain cautious in several markets as we enter 2018: primarily in the UK, where we will continue to focus on protecting margins whilst investing in structural opportunities; in Australia, where we have invested in headcount and a new office in Canberra; and in Brazil, which remains challenging, despite a stronger performance in the fourth quarter,” CEO Steve Ingham said.
“However, we will continue to invest in our Large High Potential Markets, as well as in markets with favorable trading conditions, both existing and new markets, such as India and the Nikkei market in Japan,” Ingham continued. “We will, as always, continue to focus on driving profitable growth while being able to respond quickly to changes in market conditions.”
Gross profit by segment
| Q4 2017 | Q4 2016 | % change | % change constant currency | Q4 2017 (US$ millions) | |
| Accounting and financial services | £67.6 | £61.9 | 9.2% | 11.1% | $91.2 |
| Engineering, property & construction, procurement & supply chain | £41.9 | £33.8 | 23.9% | 25.7% | $56.5 |
| Legal, technology, HR, secretarial, healthcare | £41.2 | £36.7 | 12.4% | 15.1% | $55.6 |
| Marketing, sales and retail | £31.7 | £30.9 | 2.6% | 4.8% | $42.8 |
| Total | £182.4 | £163.6 | 11.7% | 13.8% | $246.1 |
Share price and market cap
Shares in PageGroup were up 9.6% to £516.00 at close of market. The company had a market cap of £1.69 billion.