PageGroup Q1 Gross Profit Declines; Says Outlook Uncertain

PageGroup reported lower first-quarter gross profit, citing challenging market conditions in the UK, Americas and EMEA. The weakness was partially offset by growth in Asia Pacific, but the headline points to continued pressure on operating conditions and demand. The update is modestly negative for the stock given the broad-based regional headwinds.

Analysis

PageGroup reported lower first-quarter gross profit, citing challenging market conditions in the UK, Americas and EMEA. The weakness was partially offset by growth in Asia Pacific, but the headline points to continued pressure on operating conditions and demand. The update is modestly negative for the stock given the broad-based regional headwinds.