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Prices & Quotes - UK Markets - Pagegroup (PAGE)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Down 578.00p
Change Today:
-1.00p
Market Cap:
1,899.42m
Sector:
Support Services

PageGroup flags coronavirus hit after record profit

By Sean Farrell

Date: Thursday 05 Mar 2020

LONDON (ShareCast) - (Sharecast News) - PageGroup's annual profit rose to a record in 2019 but the recruitment company warned that the coronavirus's impact in China had reduced group profit so far in 2020.
Pretax profit for the year to the end of December rose 1.4% to 144.2m as revenue increased 6.7% to 1.65bn. Gross profit rose 5% to 855.5m.

The FTSE 250 company's profit rose on a strong performance in the Americas and solid growth in Europe, the Middle East and Africa (EMEA) though business in EMEA got tougher in the second half. Gross profit rose 14.7% to 138.8m in the Americas and 6.1% to 418.3m in EMEA.

In Asia Pacific gross profit rose 1.3% to 163.3m as trade tensions and protests in Hong Kong suppressed growth. In the UK, where Page is the second biggest recruiter, gross profit fell 2.4% to 135.1m as Brexit worries weighed on activity.

Page's chief executive Steve Ingham said the slowdown at the end of 2019 continued into 2020 and that the COVID-19 coronavirus had cut profit in China by more than a third in the first two months of the year. As a result, group profit fell 3% in January and February.

"Looking forward, in Greater China, many of our clients have not been able to return to work with the same speed and therefore we expect a significant impact in March, one of our largest months of the year, and potentially beyond," Ingham said. "With COVID-19 now impacting other markets around the world, it is too early to estimate the impact on the group's operations."

Page increased its final dividend by 4.4% to 9.4p a share, taking the annual payout to 13.7p - up 4.6% from a year earlier. The company's shares fell 0.6% to 377.80p at 10:48 GMT.

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Pagegroup Market Data

Currency UK Pounds
Price 578.00p
Change Today -1.00p
52 Week High 614.50p
52 Week Low 350.00p
Volume 210,303
Shares Issued 328.62m
Market Cap 1,899.42m

Performance Indicators

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What The Brokers Say

Strong Buy 4
Buy 0
Neutral 5
Sell 0
Strong Sell 2
Total 11
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Pagegroup Dividends

  Latest Previous
  Special Interim
Ex-Div 05-Sep-19 05-Sep-19
Paid 09-Oct-19 09-Oct-19
Amount 12.73p 4.30p

Trades for 22-Jun-2021

Time Volume / Share Price
14:00 271 @ 578.00p
14:00 252 @ 578.00p
14:00 40 @ 578.00p
14:00 296 @ 578.00p
14:00 279 @ 578.00p

Pagegroup Key Personnel

CEO Stephen Ingham
CFO Kelvin Stagg