Oct 11 British recruitment firm PageGroup Plc
voiced caution over its short-term outlook on Tuesday,
partly citing uncertainty in UK hiring after Britons voted to
leave the European Union.
The company, which mainly finds candidates to fill permanent
positions, said third-quarter gross profit from its British
operations fell 4.7 percent to 37.8 million pounds ($47 million)
in constant currency terms in the three months to Sept 30, with
uncertain conditions particularly hurting hiring among its
This points to a deterioration in trading conditions
compared to the 2.3 percent fall reported a quarter earlier,
when PageGroup had noted a slight fall-off in demand before the
June 23 Brexit vote.
Confidence in the British market remained fragile and was
below levels seen last year, PageGroup said, adding that several
of its larger markets including Greater China and Brazil were
"With the prevailing uncertainty in the UK, the challenges
in some of our other larger markets and the unpredictable nature
of the current cycle, we remain cautious in our short-term
outlook," Chief Executive Steve Ingham said in a statement.
The company's worldwide gross profit rose 1.3 percent in
constant currency terms to 158.6 million pounds.
($1 = 0.8042 pounds)
(Reporting by Esha Vaish in Bengaluru; Editing by Adrian Croft)