FINANCIALS: Profits at PageGroup down, but better news for UK and EMEA
15 January 2014
The UK’s steady economic improvement has helped recruiter PageGroup, despite total Q4 profits for the overall group dropping slightly year-on-year by 1.2% to £125m.
Wed, 15 Jan 2014The UK’s steady economic improvement has helped recruiter PageGroup, despite total Q4 profits for the overall group dropping slightly year-on-year by 1.2% to £125m.
The recruiter’s full-year gross profit (GP) fell 2.5% to £513.9m compared to £526.9m in 2012.
In the final quarter of 2013, the UK arm recorded a GP of £31.8m, a 5.1% year-on-year rise, with chief executive officer Steve Ingham commenting on the UK’s “steadily improving job count”.
And the company’s Europe, Middle East and Africa division posted the first rise to £52m in quarterly growth since 2012, an increase of 1.1%.
There were cautionary conditions elsewhere, though, with GP in Asia-Pacific down 13.1% to £24.2m from £27.9m year-on-year. Ingham says: “However, the fourth quarter also saw a continuation of the challenging trading conditions in Australia, which, with the effect of continued adverse foreign exchange movements, impacted the overall performance of the Asia-Pacific region.”
The recruiter’s full-year gross profit (GP) fell 2.5% to £513.9m compared to £526.9m in 2012.
In the final quarter of 2013, the UK arm recorded a GP of £31.8m, a 5.1% year-on-year rise, with chief executive officer Steve Ingham commenting on the UK’s “steadily improving job count”.
And the company’s Europe, Middle East and Africa division posted the first rise to £52m in quarterly growth since 2012, an increase of 1.1%.
There were cautionary conditions elsewhere, though, with GP in Asia-Pacific down 13.1% to £24.2m from £27.9m year-on-year. Ingham says: “However, the fourth quarter also saw a continuation of the challenging trading conditions in Australia, which, with the effect of continued adverse foreign exchange movements, impacted the overall performance of the Asia-Pacific region.”
