Delayed decisions hit UK profits of recruiter Page
RECRUITMENT firm Page Group has blamed a further drop in profit in its UK business on lethargy in the market as firms put off decision making.
In the third quarter of the year, the FTSE 250 company reported a 7.6pc fall in gross profit to £34.9m in the UK – its biggest market. That was a sharper fall than the 4.5pc slide it reported a quarter earlier. Page, which generates about a fifth of its gross profit in Britain, said in July that weakness in the UK market could last two years.
“Brexit and political uncertainty [are] continuing to impact confidence, particularly amongst our multinational clients and the more senior permanent candidates,” the company said.
Its business placing permanent candidates was down 10pc, while its temporary business was only down 2pc.
Steve Ingham, chief executive, said although the jobs and candidates were still presenting themselves, getting people into roles was proving harder. Page reported an 11.8pc rise in gross profit across all regions to £177.3m in the three months to Sept 30.