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PageGroup: Fourth Quarter and Full Year 2019 Trading Update

PageGroup reported gross profits of £205.6 million in the fourth quarter of 2019, down 2.6% (down 0.4% in constant currency) from £211.0 million in the fourth quarter of 2018. Gross profit in the Americas totaled £32.6 million, up 2.2% (5.0% in constant currency) from £31.9 million on a year-to-year basis—driven by a 10.0% gain in the U.S. The Americas continued to be the company’s fastest-growing region. Gross profit totaled £151.3 million for permanent placement, down 4.9% (down 3.0% in constant currency) from £159.1 million in the year-ago quarter, and £54.3 million for temporary placement, up 4.6% (7.5% in constant currency) from £51.9 million.

For all of fiscal year 2019, PageGroup reported gross profits of £856.0 million, up 5.0% (5.0% in constant currency) from £814.9 million in fiscal year 2018. Gross profit in the Americas totaled £139.1 million, up 14.9% (14.0% in constant currency) from £121.0 million on a year-to-year basis. Gross profit totaled £644.5 million for permanent placement, up 3.7% (3.4% in constant currency) from £621.7 million, and £211.5 million for temporary placement, up 9.5% (10.2% in constant currency) from £193.2 million.