PageGroup PLC (STU:3MI)

€ 4.26 0.06 (1.43%) Market Cap: 1.36 Bil Enterprise Value: 1.42 Bil PE Ratio: 22.94 PB Ratio: 4.20 GF Score: 63/100

Q1 2022 Pagegroup PLC Trading Statement Call Transcript

Apr 12, 2022 / 08:00AM GMT

Transcript

Kelvin Stagg

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

Thank you, and good morning, everyone. Thank you for joining us at short notice this morning. We'd like to welcome you to the PageGroup First Quarter Trading Update. I'm Kelvin Stagg, Chief Financial Officer; and on the call with me is Steve Ingham, 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 improvement in trading conditions we experienced in 2021 continued into the first quarter of 2022. Consequently, the group delivered gross profit of GBP 258.2 million, another record quarter for the group. Against 2021, we grew 42.6% in constant currencies. To remind you, the impact of COVID-19 remained significant in Q1 2021, when we were down 10% compared to 2019, albeit exiting down only 2% in March. Despite this, in Q1 2022, even against 2019 pre-pandemic levels, we still grew 28.3%. We

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