Business
FIRST QUARTER 2019 TRADING UPDATE
FIRST QUARTER 2019 TRADING UPDATE.
About this update from Pagegroup Plc
[{"type":"text","content":"\n \nRNS Number : 6857V PageGroup plc 10 April 2019 \n\n \n10 April 2019\nPageGroup plc\nFIRST QUARTER 2019 TRADING UPDATE\nGrowth across all of our regions\n \nQ1 Highlights*\n· Group gross profit growth +11.7% (+11.2% in reported rates)\n· All four regions delivered growth, 12 countries grew over 20%\n· Large, High Potential markets (33% of Group) +19%\n· EMEA +11.4%; France +8%; Germany +23%\n· Asia Pacific +14.9%; Greater China +9%; South East Asia +11%; Australia +13%\n· UK +1.7%; Michael Page -1%; Page Personnel +10%\n· Americas +21.4%; North America +21%; Latin America +22%\n· Professional Services disciplines (25% of Group) fastest growing at +16.0%\n· Record headcount of 7,842; fee earner to operational support staff ratio maintained at 79:21 \n· Strong balance sheet, net cash of c. £76m \n· Expect 2019 operating profit to be in line with consensus**\n \n* In constant currencies except where stated otherwise\n**Company compiled consensus for 2019 operating profit of £160.4m\n \n \n \nQ1 GROSS PROFIT ANALYSIS\n \n\n\n\n\n\n\n\n\n\nReported (£m)\n\n\nConstant\n\n\n\n\nYear-on-year \n\n\n% of Group \n\n\nQ1 2019\n\n\nQ1 2018\n\n\n%\n\n\n%\n\n\n\n\nEMEA \n\n\n50%\n\n\n104.1\n\n\n94.8\n\n\n+9.9%\n\n\n+11.4%\n\n\n\n\nAsia Pacific\n\n\n18%\n\n\n38.2\n\n\n 32.9\n\n\n+16.0%\n\n\n+14.9%\n\n\n\n\nUK \n\n\n17%\n\n\n34.4\n\n\n 33.8\n\n\n+1.7%\n\n\n+1.7%\n\n\n\n\nAmericas\n\n\n15%\n\n\n32.1\n\n\n 26.3\n\n\n+21.9%\n\n\n+21.4%\n\n\n\n\nTotal\n\n\n100%\n\n\n208.8\n\n\n 187.8\n\n\n+11.2%\n\n\n+11.7%\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nPermanent \n\n\n76%\n\n\n158.5\n\n\n142.1 \n\n\n+11.5%\n\n\n+11.8%\n\n\n\n\nTemporary\n\n\n24%\n\n\n50.3\n\n\n45.7\n\n\n+10.2%\n\n\n+11.4%\n\n\n\n \nKelvin Stagg, Chief Financial Officer, said:\n\"The Group grew gross profit 11.7% in constant currencies with all four regions delivering growth and 12 countries growing in excess of 20%. \n\"Our five Large, High Potential markets of Germany, Greater China, Latin America, South East Asia and the US continued to perform strongly, growing 19% collectively. Germany grew 23%, with our Interim ...