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Michael Page PLC Returns to Profit Growth in Q3 as Stock Falls 8%

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PAGEGBX 200.00 3.09%

Recruiting firm Michael Page PLC (PAGE) posted gross profit of £190.5 million for the third quarter of 2026, up 1.5% in constant currencies compared to the same period in 2025. The result marks the company's first quarter of gross profit growth since the fourth quarter of 2022. Despite the operational turnaround, shares in the company dropped 8.49% to 194 GBX in today's trading.

Growth was driven by strong gains in key international markets, with gross profit rising 14.7% in Asia Pacific and 8.9% in the Americas. In contrast, conditions remained challenging across Europe and the UK, where gross profit fell 3.8% and 5.5% respectively as clients continued to favor temporary staffing over permanent placements. Productivity improved as gross profit per fee earner rose 6%, even while fee earner headcount decreased by 63 employees to 4,851 during the quarter. The company also restored its balance sheet to a net cash position of around £6 million, up from net debt of roughly £7 million in the previous quarter.

Looking ahead, the Board reaffirmed its outlook for full-year 2026 operating profit, expecting it to align with the market consensus of approximately £29 million. Investors will be monitoring whether stabilizing conditions in Europe and continued momentum in Asia and the Americas can sustain profitability despite persistent broader market uncertainty.

Key points

  • Group gross profit reached £190.5 million in Q3 2026, up 1.5% in constant currencies for its first quarter of growth since Q4 2022.
  • Asia Pacific gross profit surged 14.7% and the Americas grew 8.9%, while Europe dropped 3.8% and the UK fell 5.5%.
  • Gross profit per fee earner increased 6% year-over-year, while total fee earner headcount declined by 63 to 4,851.
  • The company returned to a net cash position of approximately £6 million, up from net debt of roughly £7 million in Q2 2026.
  • Full-year 2026 operating profit is expected to meet company-compiled market consensus of around £29 million.

Written by our AI from expert market sources across the web. It can contain mistakes: check the facts before acting on them. Write-ups powered by the free AI API at FreeTheAI.org

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Questions and answers

What were Michael Page PLC's Q3 2026 financial results?

Michael Page PLC reported gross profit of £190.5 million in Q3 2026, representing a 1.5% increase in constant currencies compared to Q3 2025 and marking its first growth quarter since Q4 2022.

What is Michael Page PLC's profit forecast for full year 2026?

Michael Page PLC expects its full-year 2026 operating profit to be in line with the company-compiled market consensus of approximately £29 million.

How did Michael Page PLC perform across different geographic regions?

Gross profit grew 14.7% in Asia Pacific and 8.9% in the Americas, but fell 3.8% in Europe, Middle East and Africa, and dropped 5.5% in the UK.