13th Jul 2022 09:19
(Alliance News) - PageGroup PLC on Wednesday posted a record performance in the second quarter of 2022, fostering confidence of meeting market expectations for the year as a whole.
For the three months that ended June, the Surrey-based recruiter said gross profit increased 28% to GBP280.9 million from GBP219.8 million the same period a year before. For the six month period, gross profit rose 33% to GBP539.0 million.
PageGroup noted double-digit growth from all regions for the quarter, with Europe, Middle East & Africa remaining the largest contributor at GBP137.1 million in gross profit, up 28% a year prior.
Meanwhile, the Americas region posted the highest rate of growth, with gross profit up 48% to GBP51.1 million, as a result of trading conditions in the US continuing to improve since the second half of 2021.
The group's fee earner headcount increased to 6,734 in the second quarter from 6,427 in the first quarter.
Looking ahead, PageGroup expects operating profit for 2022 to be in line with company-compiled consensus of GBP205 million, up from GBP168.5 million in 2021.
"We delivered a record quarter for the group, with record performances in 25 countries. We exited the quarter strongly, delivering a record month in June, our second month of gross profit in excess of GBP100 million. This performance was achieved despite the backdrop of macro-economic and geo-political uncertainty as well as continued COVID-19 restrictions in certain markets," said Chief Executive Officer Steve Ingham.
PageGroup will publish its interim results on August 8.
Shares in PageGroup were down 1.5% at 423.60 pence on Wednesday in London.
By Dayo Laniyan; [email protected]
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