Business
First Quarter 2021 Trading Update
First Quarter 2021 Trading Update.
About this update from Pagegroup Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 9044U\n PageGroup plc\n 09 April 2021\n \n \n \n \n 9 April 2021\n \n \n \n \n \n PAGEGROUP PLC\n \n \n \n \n \n FIRST QUARTER 2021 TRADING UPDATE\n \n \n \n \n \n Q1 Highlights*\n \n \n · \n Group gross profit of £184.2m, +2.0% vs. Q1 2020 and -9.9% vs. Q1 2019\n \n \n · \n Monthly sequential improvement through the quarter, exiting March at +31% vs. 2020 and -2% vs. 2019\n \n \n · \n Large, High Potential markets (36% of Group) +10%\n \n \n · \n EMEA +3.6%: France -7%; Germany +15%\n \n \n · \n Asia Pacific +15.3%: Greater China +45%; SE Asia +12%; India +15%\n \n \n · \n Americas -4.3%: US -9%; Latin America +4%\n \n \n · \n UK -11.0%: Michael Page -5%; Page Personnel -27% \n \n \n · \n Strong cash position, net cash of c. £136m (Q4 2020: £166m, Q1 2020: £83m)\n \n \n · \n Increase in fee earner headcount of 122 to 5,267 (Q1 2020: 5,923)\n \n \n \n \n \n Outlook\n \n \n · \n Full year operating profit expected to be within the range of £90m - £100m\n \n \n \n \n \n * In constant currencies except where stated otherwise\n \n \n \n \n \n Q1 Gross Profit Analysis\n \n \n Given the magnitude of the impact of COVID-19 in 2020, we are also including comparisons against 2019 to ensure the most appropriate representation of current trading.\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Reported (£m)\n \n \n \n \n Constant vs. 2020\n \n \n \n \n Constant\n \n \n vs. 2019\n \n \n \n \n \n \n Year-on-year \n \n \n \n \n % of Group \n \n \n \n \n Q1 2021\n \n \n \n \n Q1 2020\n \n \n \n \n %\n \n \n \n \n %\n \n \n \n \n %\n \n \n \n \n \n \n EMEA \n \n \n \n \n 52%\n \n \n \n \n 95.9\n \n \n \n \n 91.2\n \n \n \n \n +5.1%\n \n \n \n \n +3.6%\n \n \n \n \n -8.4%\n \n \n \n \n \n \n Asia Pacific\n \n \n \n \n 19%\n \n \n \n \n 35.9\n \n \n \n \n 31.3\n \n \n \n \n +14.8%\n \n \n \n \n +15.3%\n \n \n \n \n -4.2%\n \n \n \n \n \n \n Americas\n \n \n \n \n 15%\n \n \n \n \n 26.8\n \n \n \n \n 30.9\n \n \n \n \n -13.5%\n \n \n \n \n -4.3%\n \n \n \n \n -5.6%\n \n \n \n \n \n \n UK \n \n \n \n \n 14%\n \n \n \n \n 25.6\n \n \n \n \n 28.9\n \n \n \n \n -11.0%\n \n \n \n \n -11.0%\n \n \n \n \n -25.1%\n \n \n \n \n \n \n Total\n \n \n \n \n 100%\n \n \n \n \n 184.2\n \n \n \n \n 182.3\n \n \n \n \n +1.0%\n \n \n \n \n +2.0%\n \n \n \n \n -9.9%\n \n \n ...