PageGroup CEO announces exit after record quarter
Pagegroup
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08:44 10/01/25
PageGroup announced a record quarter for the start of 2022 and said its chief executive, Steve Ingham, was leaving after 16 years at the top of the recruitment company.
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The FTSE 250 group said gross profit rose 42.6% to £258.2m in the three months to the end of March at constant currency from a year earlier. March was the first month it recorded gross profit of more than £100m.
PageGroup also said its board had decided to look for a replacement for Ingham and that he had agreed. Ingham will stay on as CEO until a replacement is found.
Growth in the first quarter was strong across the company with Europe, Middle East and Africa profit up 41% at constant currency to £129.7m. The Americas had the most rapid growth, up 60% to £42.9m, and profit rose 43% in the UK to £36.9m. In Asia Pacific, profit was up 36% to £48.7m.
Job markets have boomed as economies have recovered from the Covid-19 crisis. PageGroup said trading was supported by rising wages and higher fees because of high demand for and shortage of supply of job candidates.
Ingham said: We delivered another record quarter for the group, with record performances in 19 countries. We exited the quarter strongly, with a record in March, the first time the group has delivered gross profit in excess of £100m.
"Having consulted with me, the nomination committee has decided that now is the right time to commence the process to identify my successor, and I have indicated my support for their decision. I have been privileged to lead PageGroup over the last 16 years and I am immensely proud of everything we have achieved together."