Business
Full Year Results for the Year Ended 31 Dec 2023
Full Year Results for the Year Ended 31 Dec 2023.
About this update from Pagegroup Plc
[{"type":"text","content":"\n\n7 March 2024\n \n\n \nFull Year Results for the Year Ended 31 December 2023\n \nResilient performance in challenging market conditions, restructured cost base, final dividend increased 4.5%\n \nPageGroup plc (\"PageGroup\"), the specialist professional recruitment company, announces its full year results for the year ended 31 December 2023.\n \n\n\n\n\nFinancial summary\n\n\n2023\n\n\n2022\n\n\nChange\n\n\nChange\nCC*\n\n\n\n\nRevenue\n\n\n£2,010.3m\n\n\n£1,990.3m\n\n\n+1.0%\n\n\n+1.1%\n\n\n\n\nGross profit\n\n\n£1,007.1m\n\n\n£1,076.3m\n\n\n-6.4%\n\n\n-6.3%\n\n\n\n\nOperating profit\n\n\n£118.8m\n\n\n£196.1m\n\n\n-39.4%\n\n\n-39.4%***\n\n\n\n\nProfit before tax\n\n\n£117.4m\n\n\n£194.4m\n\n\n-39.6%\n\n\n\n\n\n\n\nBasic earnings per share\n\n\n24.4p\n\n\n43.7p\n\n\n-44.2%\n\n\n\n\nDiluted earnings per share\n\n\n24.3p\n\n\n43.5p\n\n\n-44.1%\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nTotal dividend per share\n(excl. special dividend)\n\n\n16.37p\n\n\n15.67p\n\n\n\n\n\n\n\nTotal dividend per share\n (incl. special dividend)\n\n\n32.24p\n\n\n42.38p\n\n\n\n\n\n\n\n\n\n\n \n \nHIGHLIGHTS*\n \n· Group gross profit down 6.3% to £1,007.1m (2022: £1,076.3m)\n· Operating profit of £118.8m (2022: £196.1m)\n· Conversion rate** decreased to 11.8% (2022: 18.2%)\n· Fee earner headcount decreased by 1,092 (15.7%) vs 2022, total closing headcount of 7,859\n· Gross profit per fee earner at record levels as a result of action on fee earner headcount\n· Strong cash position of £90.1m (2022: £131.5m)\n· Total dividends of £100.1m paid during 2023\n· Final dividend proposed of 11.24p per share (2022: 10.76p), up 4.5%\n \n*At constant currency - all growth rates in constant currency at prior year rates unless otherwise stated\n**Operating profit as a percentage of gross profit\n***Excluding impact of hyperinflation in Argentina\n \n \nCommenting, Nicholas Kirk, Chief Executive Officer, said:\n \n\"We produced a resilient performance in 2023 in challenging market conditions. Despite the year-on-year decline in gross profit and operating profit, we saw good activity levels through most of the year, albeit the conversion of final interviews to a...