PageGroup PLC

PageGroup PLC (LSE: PAGE)is an FTSE 250 index-listed company offering recruitment consultancy and other ancillary services under three brands: Michael Page, Page Personnel, and Page Executive.

Interim Results(H1 FY23 Results, Released on 07August 2023)

• Improved Revenue:Thecompany reported amarginal increase in the revenue by 5.8% to GBP 1,033.9 mn in H1 FY23 against GBP977.30 mn in H1 FY22.This was majorly driven by the increase in the revenue from temporary segments to GBP 638.31 mn in the reported period versus GBP 977.25 mn in pcp, offsetting the declinein sales from the permanent segment.
• Profitability: Thegross profit declined marginally by 2.2% GBP 526.8 mn in H1 FY23 against GBP 538.9 mn in pcp, whereas the operating profit decreased by 44.6% to GBP 63.9 mn in the reported period H1 FY23 against GBP 115.3 mn in pcp. Further, the basic EPS decreased by 46.9% to GBX 13.6 in H1 FY23 as compared to GBX 25.6 in pcp.
• Dividend Declaration: The management announced an interim dividend of GBX5.13 per share (34.5% higher than the dividend in pcp), which will be paid on 13October 2023.
• Outlook:The management is optimistic and expects the operating profit for FY23 to be in line with the guidance stated previously.

Share Price Chart

Markets are trading in a highly volatile zone currently due to certain macroeconomic issues and geopolitical tensions prevailing. Therefore, it is prudent to follow a cautious approach while investing.

PageGroup PLC (LSE: PAGE) was trading at the closing market price ofGBX448.60(as of07August2023)

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance level is 07August 2023. The reference data in this report has been partly sourced from REFINITIV.

Note 3: ‘Kalkine reports are prepared based on the stock prices captured either from the London Stock Exchange (LSE) and or REFINITIV. Typically, both sources (LSE and or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.

Note 4:Dividend Yield may vary as per the stock price movement.

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