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Page Group North America gross profit rises 23% on strong US results

January 12, 2016

Page Group, a London-based professional staffing firm, reported fourth-quarter gross profit in its North America unit rose 23% year over year, with the US up 27% on strong performance from New York.

Trading conditions in Canada remained challenging with growth of 1%.

Fourth-quarter gross profit for Page Group’s Americas segment — which also includes Latin America and Brazil — was £18.8 million (US$27.9 million), up 5.4% in constant currency compared with the same period in the previous year. Latin America fell 9%; however, excluding Brazil, which fell 34%, Latin America rose 23%, according to the company.

Page Group has operations worldwide. Total fourth-quarter gross profit rose 5.3% on a constant currency basis to £135.6 million (US$202.5 million).

For the full year, Page Group reported gross profit rose 9.2% in constant currency to £555.9 million (US$824.0 million), a record year for the company.

“The Group’s Q4 gross profit growth rate of 5.3% in constant currencies was delivered despite trading conditions deteriorating during the fourth quarter, notably in our UK and Asia Pacific regions, as well as in Brazil and the Middle East," said CEO Steve Ingham. “However, our businesses in Continental Europe, the US and Latin America, excluding Brazil, continued to grow strongly.”