LONDON (dpa-AFX) - Page Group Plc (MPGPF.PK, PAGE.L), a British provider of recruitment and career services, on Monday reported a decline in its fourth-quarter gross profit due to challenging market conditions.
Nicholas Kirk, CEO of PageGroup, said: 'Market conditions remained challenging in Q4 and whilst most markets were sequentially stable, we experienced a further worsening in Europe, particularly in our two largest markets, France and Germany. The conversion of interviews to accepted offers remains the most significant area of challenge as the ongoing macro-economic uncertainty continues to impact candidate and client confidence, also extending the time-to-hire.'
For the fourth quarter, the company posted a gross profit of 196.7 million pounds, lower than 237.5 million pounds, registered for the same period last year.
For the full year, gross profit stood at 842.5 million pounds as against the prior year's 1.007 billion pounds.
Looking ahead, for the full year, the company expects operating profit, after one-off costs of around 5 million pounds related to the closure of its Shared Service Centres in the UK and Singapore, to be towards the lower end of the current market consensus range of 49 million pounds to 58.5 million pounds.
The Group will release its annual earnings report on March 6.
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