PageGroup falls on UK uncertainty

PageGroup falls on UK uncertainty

PageGroup’s (PAGE) cautious stance on the UK market, in light of ongoing uncertainty around Brexit, cost its share price on results day. The domestic market accounts for around a fifth of group gross profits, and was the only segment not to report bottom-line growth in 2017. Chief executive Steve Ingham said this was largely the result of PageGroup’s focus on higher-salary positions, with activity levels stronger at the lower end of that spectrum. As such, protecting UK margins will remain a key focus this year, which could mean lowering headcount to cut costs.

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