PageGroup Q2 Earnings Call Highlights

PageGroup (LON:PAGE) reported broadly level second-quarter gross nett arsenic maturation successful the Americas and Asia Pacific offset weaker trading successful France, Northern Europe and the U.K., with absorption saying marketplace conditions stay challenging but showing signs of betterment successful immoderate regions.

Chief Financial Officer Kelvin Stagg said the recruitment radical generated second-quarter gross nett of GBP 197.6 million, down 0.2% successful changeless currencies from the anterior year. For the archetypal half, gross nett was GBP 385.2 million, a diminution of 2.4% successful changeless currencies.

→ PepsiCo's Dividend Could Turn Patience Into Real Profit

"Despite ongoing challenging marketplace conditions, the radical produced a bully show successful Q2," Stagg said. He added that astir 50% of the radical was successful maturation during the quarter.

The institution reduced interest earner headcount by 80, oregon 1.6%, during the quarter, chiefly successful France and Northern Europe. PageGroup ended June with 4,914 interest earners and full headcount of 6,679. Non-operational headcount fell by 42, oregon 2.3%, successful the period.

→ MarketBeat Week successful Review – 07/06 - 07/10

Stagg said gross nett per interest earner, the company's measurement of productivity, roseate 5% versus the 2nd 4th of 2025, marking the group's highest quarterly productivity since 2022. He said the institution continued to people higher salary-level roles, and that imperishable interest rates remained astatine grounds levels.

Regional Performance Mixed Across the Group

In Europe, the Middle East and Africa, PageGroup's largest portion astatine 51% of the group, gross nett declined 4.8% from the anterior year. Temporary recruitment, down 2%, was much resilient than imperishable recruitment, down 6%.

→ Buyer Beware: These 2 Stocks Charts Just Displayed a Death Cross

Germany, the group's largest marketplace and 12% of the business, declined 4% successful the quarter. Stagg said contracting and Page Executive performed strongly, portion Michael Page imperishable recruitment was much challenging due to the fact that of renewed vigor terms shocks, geopolitical tensions and anemic marketplace sentiment.

France, PageGroup's second-largest market, declined 12% amid governmental and macroeconomic uncertainty. Stagg said impermanent recruitment successful France fell 7%, outperforming imperishable recruitment, which declined 16%. He said clients person go "increasingly selective, slower to marque decisions, and much blimpish connected wage offers," expanding clip to hire.

Southern Europe returned to growth, with Spain up 9% and Italy up 7%. Stagg said Italy's maturation was driven by a peculiarly beardown show successful Page Executive. The Middle East declined 24% arsenic lawsuit and campaigner assurance remained subdued amid determination conflict.