FINANCIALS: PageGroup reports ‘challenging’ conditions but posts profits
While PageGroup has reported “challenging” market conditions for some of its larger markets including the UK, the global recruiter has still managed to post double-digit revenue and gross profit growth in H1 2017.
According to half-year results for the period ended 30 June 2017, published this morning, the group saw revenue increase from £673.1m from £575.9m and GP increase from £299.2m to £352m, up 16.9% and 17.7% respectively.
Commenting on the results, PageGroup CEO Steve Ingham said the results reflected improved business group performance and operational efficiencies.
“We experienced some improved macro-economic conditions, particularly in Asia (excluding Singapore), Continental Europe and Latin America (excl-Brazil), which helped drive growth in the first half. However, challenging market conditions continued in some of our larger markets, including Brazil, Singapore and the UK…
“We are pleased with our first-half performance, but remain mindful that a number of political and macro-economic uncertainties will continue through 2017. We will continue to focus on driving profitable growth, as we did in the first half, whilst remaining able to respond quickly to any changes in market conditions."
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