FX.co ★ PageGroup Q2 Gross Profit Down 12.0% YoY - Quick Facts

PageGroup plc (MPGPF.PK, PAGE.L) has announced a gross profit of £224.3 million for the second quarter, reflecting a 15.0% decrease in reported rates, or a 12.0% decrease when adjusted for constant currencies. For the first half of the year, the gross profit stood at £444.2 million, marking a 15.7% decline on a reported basis and a 12.4% decline in constant currencies.

Nicholas Kirk, CEO of PageGroup, commented: "We continued to witness challenging market conditions throughout the Group in the second quarter and noted a decline in activity levels, particularly regarding new job registrations and the number of interviews."

Looking ahead, the Group indicated that, in light of weaker than anticipated trading in June, coupled with recent geopolitical and macro-economic uncertainties, a more cautious outlook for the second half is warranted. Consequently, the Board now projects the full-year 2024 operating profit to be around £60 million.

The Group is scheduled to release its first-half results on 8 August 2024.