PageGroup PLC (OTCPK:MPGPF)

$ 5.0165 0.1465 (3.01%) Market Cap: 1.43 Bil Enterprise Value: 1.50 Bil PE Ratio: 22.94 PB Ratio: 4.20 GF Score: 79/100

Q3 2023 Pagegroup PLC Trading Statement Call Transcript

Oct 11, 2023 / 07:30AM GMT

Release Date Price: $5.06

Transcript

Kelvin John Stagg

PageGroup plc - CFO, Member of Executive Board & Executive Director

Good morning, everyone, and welcome to the PageGroup 2023 Third Quarter Trading Update. I'm Kelvin Stagg, Chief Financial Officer; and on the call with me is Nick Kirk, Chief Executive Officer. Although I will not read it through, I'd just like to make reference to the legal formalities that are covered in the cautionary statement in the appendix to this presentation and which will also be available on our website following the call.

The group delivered gross profit of GBP 242.2 million in the quarter, a decline of 7.9% in constant currencies against Q3 2022. This was a resilient result despite a slower end to the quarter. Our largest region, EMEA, was our best performing. However, tough market conditions affected performances in Asia, the U.S. and the U.K. In line with the continued challenging trading conditions, our fee earner headcount reduced by 310 or 4.8% in the quarter, with reductions in all regions. Our fee earner headcount ended the quarter at 6,075. 996 or -- sorry, or 14.1% lower than in Q3

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