LONDON (dpa-AFX) - Recruitment agency PageGroup plc (PAGE.L), in its trading update, on Wednesday reported lower gross profit for the second quarter and first half.
Looking ahead, the company expects fiscal 2023 operating profit to be in line with company consensus of 137.6 million pounds.
Quarterly gross profit decreased 6.2 percent to 263.5 million pounds from 280.9 million pounds for the same period in the previous year.
Group gross profit declined 6.5 percent in constant currencies.
A growth in EMEA region was more than offset by drop in all other regions.
'The permanent recruitment saw a dip of 11.2 percent with lower levels of confidence in both candidates and clients resulting in delays in decision making and reluctance of the candidates in accepting offers.', the company said in a statement.
However, temporary gross profit grew 12.1 percent from last year.
For the first half, total gross profit fell 2.3 percent on a reported basis and 4.5 percent at constant currency rates to 526.5 million pounds.
The company is scheduled to release its first-half results on August 7.
Currently, shares of PageGroup closed at 423.20 pence, up 3.07% or 12.60 pence on the London Stock Exchange.
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