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.

Q3 FY23 Trading Update (Released on 11 October 2023)

• Revenue: The company reported group profit of GBP 242.2 mn which declined by 7.9% as compared to pcp and -10.5% on the reported basis. The majority of the revenue declined was from the UK region (-18.9%) followed by Americas (-13.3%) in the reported period on account of the slow hiring. The sales from the temporary segment increased by 5.8% which was offset by the decline of 12.1% in the sales from the permanent segment in Q3 FY23.  
• Liquidity: The group reported the net cash of GBP 136 mn in Q3 FY23 as compared to the net cash of GBP 96 mn in Q2 FY23 and GBP 186 mn in Q3 FY22.  
• Share Buyback: The company announced the share buyback plan of approx. GBP 1 bn,  from 6 October 2024 to September 2024. The management is pursuing the share buyback following its capital surplus program and to maintain the Net Debt to EBITDA at the lower end of 2.0x  to 2.5x.
• Outlook: The management is optimistic about delivering the total capital returns including the dividends paid and share buyback to cross GBP 2.4 bn in FY24.

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 of GBX 414.20 (as of 11 October 2023).

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 11 October 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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