(Reuters) - British recruiter PageGroup on Thursday posted a 58.2% fall in annual profit, missing estimates, and warned of heightened macro-economic and geopolitical uncertainty across its key markets
PageGroup Signals Increased Uncertainty in UK, France, and Germany Markets
(Reuters) -British recruiter PageGroup on Thursday warned of heightened macro-economic and geopolitical uncertainty across its key markets of the UK, France and Germany, while missing estimates with a 58% fall in its annual profit.
Economic and political upheaval has weighed on confidence of potential employers and job seekers and slowed both permanent and temporary hiring.
Fellow recruiters Robert Walters, Hays and Adecco have also highlighted tough business conditions.
PageGroup's pre-tax profit for 2024 came in at 49.1 million pounds ($63 million), lower than analysts' average estimates of 50.6 million pounds, according to data compiled by LSEG.
Robert Walters, which had said it does not expect a profit in 2024, posted an annual profit before tax of 500,000 pounds, down 98% from the 20.8 million a year ago.
($1 = 0.7752 pounds)
(Reporting by Aby Jose Koilparambil, Shashwat Awasthi and Chandini Monnappa in Bengaluru; Editing by Janane Venkatraman)
