Business
Half Year Results for the Period Ended 30 June 24
Half Year Results for the Period Ended 30 June 24.
About this update from Pagegroup Plc
[{"type":"text","content":"\n\n\n \n8 August 2024\nHalf Year Results for the Period Ended 30 June 2024\n \nPageGroup plc (\"PageGroup\"), the specialist professional recruitment company, announces its unaudited half year results for the period ended 30 June 2024.\n \n\n\n\n\nFinancial summary\n(6 months to 30 June 2024)\n\n\n2024\n\n\n2023\n\n\nChange\n\n\nChange\nCC*\n\n\n\n\nRevenue\n\n\n£898.0m\n\n\n£1,033.9m\n\n\n-13.1%\n\n\n-9.8%\n\n\n\n\nGross profit\n\n\n£444.1m\n\n\n£526.8m\n\n\n-15.7%\n\n\n-12.4%\n\n\n\n\nOperating profit\n\n\n£28.4m\n\n\n£63.9m\n\n\n-55.5%\n\n\n-53.7%***\n\n\n\n\nProfit before tax\n\n\n£27.7m\n\n\n£63.3m\n\n\n-56.2%\n\n\n\n\n\n\n\nBasic earnings per share\n\n\n5.3p\n\n\n13.6p\n\n\n-61.0%\n\n\n\n\n\n\n\nDiluted earnings per share\n\n\n5.3p\n\n\n13.6p\n\n\n-61.0%\n\n\n\n\n\n\n\nInterim dividend per share\n\n\n5.36p\n\n\n5.13p\n\n\n\n\n\n\n\n\n\n\n \nH1 Summary\n· Group operating profit of £28.4m (H1 2023: £63.9m)\n· Conversion rate** of 6.4% (H1 2023: 12.1%)\n· Gross profit per fee earner up 0.9% to £77.4k\n· Total headcount decreased by 283 (3.6%) to 7,576 at the end of June\n· Net cash in June of £57.2m (H1 2023: £97.9m)\n· Interim dividend up 4.5% to 5.36 pence per share, totalling £16.8m\n· Full year operating profit expected to be in the region of £60m, in line with previous guidance\n \n* in constant currencies\n** operating profit as a percentage of gross profit\n*** excluding impact of hyperinflation in Argentina\n \nCommenting, Nicholas Kirk, Chief Executive Officer, said:\n \n\"The Group experienced challenging market conditions across all regions in H1, with a softening in activity levels towards the end of the period, particularly in terms of new jobs registered and number of interviews undertaken. The conversion of interviews to accepted offers continues to be a significant area of challenge, as candidate and client confidence remains subdued, reflecting the macro-economic uncertainty in the majority of our markets. Permanent recruitment continues to be impacted more than temporary, as clients seek more flexible options and permanent ca...