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PageGroup profits dip amid coronavirus outbreak

Published: 09:06 05 Mar 2020 GMT

PageGroup -

PageGroup PLC (LON:PAGE) said gross profits have dipped 3% between January and February while it expects a “significant impact” in March.

The FTSE 250-listed recruiter has been hit by coronavirus disruption as it operates nine offices in China, where activities have not yet resumed as normal.

READ: PageGroup cuts fee earners as challenges expected to continue in 2020

Analysts at Liberum said the consensus forecast for underlying earnings is £144mln but it could fall by 10% taking into account weakness in Asia.

The firm hailed a “record” 2019, with revenue jumping 7% to £1.6bn for profit before tax up 2% to £144mln.

The dividend was raised 5% to 13.7p per share.

Shares rose 2% to 378.4p on Thursday morning.

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