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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 589.00p
Change Today:
-16.00p
Market Cap:
1,935.56m
Sector:
Support Services

PageGroup cancels dividend, withdraws guidance

By Iain Gilbert

Date: Wednesday 08 Apr 2020

LONDON (ShareCast) - (Sharecast News) - Recruitment firm PageGroup withdrew guidance for "current and future years" and cancelled its final dividend of 9.40p per share on Wednesday as a result of impacts stemming from the Covid-19 outbreak.
PageGroup said that it will cut directors' pay by 20% and slash a further 250 jobs in April as part of an effort to slow the double-digit declines seen in the first quarter.

The FTSE 250-listed firm said on Wednesday that gross profits had declined 11.7% in the three months ended 31 March, with particularly large drops seen in China, Australia and France.

PageGroup, which had already cut 132 jobs in the first quarter, said 450 directors had agreed to reduce their salaries and fees by 20% for the second quarter, while the majority of its consultants, managers and operational support staff had agreed to a four day week, salary reduction, furlough schemes and other government programmes.

"We expect these actions, as well as our continuous and rigorous approach to managing costs, to reduce our cost base by around 20-25% in Q2," said Page.

PageGroup also stated that it had a strong balance sheet, with net cash of roughly ?83m.

As of 0850 BST, Page Group shares were up 1.40% at 333.20p.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Pagegroup Market Data

Currency UK Pounds
Price 589.00p
Change Today -16.00p
52 Week High 614.50p
52 Week Low 350.00p
Volume 264,748
Shares Issued 328.62m
Market Cap 1,935.56m

Performance Indicators

Compare performance with the sector and the market.

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P/E
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Dividend Yield
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Operating Margin
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sector
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What The Brokers Say

Strong Buy 4
Buy 0
Neutral 6
Sell 0
Strong Sell 1
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 15-Jun-2021

Time Volume / Share Price
11:31 54 @ 589.00p
11:31 20 @ 588.50p
11:31 174 @ 588.50p
11:31 1 @ 588.50p
11:31 250 @ 588.50p

Pagegroup Key Personnel

CEO Stephen Ingham
CFO Kelvin Stagg