Recruiter PageGroup targets $1.85 billion in shareholders returns by 2030
Reuters
Published Sep 20, 2023 07:37
Updated Sep 20, 2023 08:07
(Reuters) -Global recruiting firm PageGroup on Wednesday said it was targeting 1.5 billion pounds ($1.85 billion) in shareholder returns and operating profits of 400 million pounds by 2030.
The cost control measures implemented by the company will negatively impact its bottom line results for year ending Dec. 31, 2023 by 5 million pounds, PageGroup said.
British recruiters are facing tough market conditions as candidates show reluctance to switch jobs and companies take longer to hire amid growing macroeconomic uncertainties.
PageGroup reported an annual operating profit of 196.1 million pounds in 2022 and said last month it was trading in line with market view of profit of 137.6 million pounds for this year.
The company, which delivers recruitment services to clients across 37 countries, said it expected cost savings of 20 million pounds on an annual basis beginning 2024.
($1 = 0.8091 pounds)
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Written By: Reuters
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