UK gross profit down 16% in Q1 2020 for PageGroup
PageGroup has released its results for the first quarter of 2020, ended 31st March.
All of the company’s regions were impacted by the rise of COVID-19. Group gross profit was down 13% to £181.8m from £208.9m in Q1 2019. In EMEA, gross profit was down 12.5% to £91.3m, from £104.3m. Asia Pacific gross profit was £31.3m down 17.7% from £38.0m in Q1 2019. In the Americas, gross profit was down 5.8% to £30.3m from £32.2m in Q1 2019. The UK saw gross profit fall 16.0% to £28.9m from £34.4m in Q1 2019.
Steve Ingham, chief executive officer of PageGroup, said, "PageGroup continues to have a flexible and highly diversified business model that enables us to react quickly to changes in market conditions, albeit not to the same degree or speed as a sharp reduction in revenue. We are clear market leaders in many of our markets, with a highly experienced senior management team, which, we believe, positions us well to both protect our business during these extremely challenging times and take full advantage of all opportunities as and when they arise.
"I am incredibly proud of the reaction from our staff, their attitude has been tremendous and I am very grateful for their support. They continue to demonstrate our strong company Values, whilst working tirelessly towards our Purpose of changing people's lives."
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