PageGroup shares slump as profits plunge 67%, divi slashed.
Annual profits at global recruiter PageGroup plunged 67% and the dividend slashed as persistent economic uncertainty hit hiring across Europe, sending shares in the company almost 10% lower.
Source: Sharecast
The company on Thursday said pre-tax profit fell to £16.2m, compared with £49.1m a year ago. The total dividend was cut to 8.57 pence a share versus 17.11p from 2024.
Page also revealed it had cut its "fee earner" headcount by 402 people - or 7.5% leaving a total closing headcount of 6,820.
Employers are delaying or axing recruitment decisions amid weak market confidence while candidates are being more cautious about moving jobs due to the threat from artificial intelligence.
"The conversion of interviews to accepted offers remains the most significant area of challenge as ongoing macro-economic uncertainty continues to impact candidate and client confidence, also extending the time-to-hire," the company said.
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