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

Full Year 2023 Pagegroup PLC Trading Statement Call Transcript

Jan 15, 2024 / 08:30AM GMT

Transcript

Kelvin Stagg PageGroup plc;CFO

Executive Director

Good morning, everyone, and welcome to the PageGroup 2023 fourth quarter and full year trading update. I'm Kelvin Stagg, Chief Financial Officer; and on the call with me is Nick Kirk, Chief Executive Officer. Well, I will not read it through. I'd just like to make reference to the legal formalities that are covered in the cautionary statements in the appendix of this presentation, which will be also available on our website following the call.

The group delivered gross profit of GBP237.3 million in the quarter, a decline of 8.9% in constant currencies against Q4 2022. Gross profit for the full year was just over GBP1 billion, in line with the continued challenging trading conditions in Q4 at the [ fee earners] headcount reduced by 224 or 3.7% in the quarter, with reductions in all regions.

Fee earners headcount ended the quarter at 5,851, which is 1,092 or 15.7% lower than at the end of Q4 2022. Do primarily to this reduction in fee earners. Gross profit by fee earners and measure productivity increased 8% compared to

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