PageGroup gross profit up 49% for full year 2021

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March 03, 2022

PageGroup, a UK-based staffing firm with global operations, said its gross profit rose 49.1% in constant currency for the full year of 2021.

(in millions of £) 2021 2020 % change % change constant currency 2021 (millions of US dollars)
Europe, Middle East and Africa £432.0 £319.4 35.3% 40.3% $582.7
Asia Pacific £179.3 £121.1 48.0% 53.1% $241.9
Americas £138.5 £88.8 56.0% 66.9% $186.8
UK £127.9 £80.9 58.0% 58.0% $172.5
Total £877.7 £610.8 43.8% 49.1% $1,184.0

Revenue jumped 30.2% at constant exchange rates.

“I am pleased to report that 2021 has been a banner year for the group in terms of both gross profit and operating profit,” CEO Steve Ingham said. “We have prioritized the protection and well-being of our employees, candidates and clients during the pandemic, while making clear decisions regarding strategic investments in our platform to gain market share in the recovery, which reflected in our record results.

Ingham noted strong quarterly improvement throughout the year, with the group returning to growth versus 2019 in the second quarter of 2021, recording growth at constant currencies of 2%, 13% and 24% for second, third and fourth quarters, respectively.

For more comprehensive coverage of PageGroup’s annual results update, see the EMEA edition of SIA Daily News.

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