FINANCIALS: PageGroup annual group profits up but UK profits down

While PageGroup has seen annual group gross profits climb 14.6%, their UK business has not fared quite so well, according to full-year results for the year ended 31 December 2017.

The results, released this morning, reveal group revenue rose to £1,371.5m from £1,196.1m in 2016, with GP up 14.6% from £621m to £711.6m year-on-year led by strong performances in France, Germany, Spain, Greater China, Latin America, South East Asia and the US.

However, within the UK the group saw GP fall 3.8% from £146.3m to £140.8m year-on-year amid “challenging” market conditions for the group’s legal, sales and marketing divisions. 

Commenting on the results and the outlook, PageGroup CEO Steve Ingham pointed to 2017 as “a year of many records”. 

“We delivered our best ever GP for the group, as well as for each of our five large high potential markets and three of our four regions. At the end of the year, we had a record number of fee earners, as well as our highest ever fee earner to operational support staff ratio.

“GP increased by 9.8% and operating profit by 11.3% in constant currencies … This was driven by a combination of improved business performance and operational efficiencies, broadly offset by challenging economic conditions in markets such as Australia, Brazil, Singapore and the UK. 

“We continue to invest in our digital strategy to consistently improve how we source and then engage with our customers. Our websites and advertising programmes continue to drive applications with almost all countries hitting all-time highs in January 2018 to increase awareness of our brands. 

“In 2018 we will continue to invest in our large high potential markets, as well as in markets with favourable trading conditions. 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.”

In a separate announcement the group revealed independent non-executive director Danuta Gray has decided not to put herself forward for re-election at the forthcoming Annual General Meeting on 7 June 2018.

• Comment below on this story. You can also tweet us to tell us your thoughts or share this story with a friend. Our editorial email is

Recruiters: are you getting enough sleep to function properly?

On World Sleep Day it appears recruiters are missing out on sleep, if evidence from some of the sector’s leading figures is anything to go by…

Lighter Side 16 March 2018

Chancellor’s promise of £80m for apprentices given mixed reception

The Chancellor Philip Hammond’s announcement of a £80m boost to apprenticeships has been given a mixed reception by recruiters, with one telling Recruiter that more money was not the answer.

Legislation 14 March 2018

FINANCIALS: Empresaria NFI up for 18th consecutive quarter

International specialist staffing group Empresaria grew its net fee income (NFI) for the 18th consecutive quarter as it reported a 14% increase in adjusted profit before tax on revenue that was 28% higher for the full year 2017.

Financials 14 March 2018

Castlerock Recruitment acquires Healthcare Locums

Healthcare and medical recruiter Castlerock Recruitment Group (CRG) has acquired rival Healthcare Locums (HCL), Recruiter can exclusively reveal.

Contracts 12 March 2018