PageGroup jumps to record Q1 profit; UK hit by Brexit

Recruitment firm PageGroup said Brexit uncertainties hit its UK operations as it released a first quarter trading update.

Overall, gross profits for the period jumped 9.1% to a record £142.2m at constant currency levels.

UK profits were flat at £36.4m although chief executive Steve Ingham described it as the division's “best performance for a year”.

“We are pleased with the strong performance across the majority of our regions, but note the timing of Easter benefited the overall quarterly result,” he said.

“Furthermore, there remain a number of uncertainties as we continue through 2017, including the impact of Brexit in the UK, elections in Europe and Brazil’s ongoing macro-economic challenges.”

“Looking ahead, we will continue to focus on driving profitable growth, while being able to respond quickly to any changes in market conditions.”