Latest news with #NicholasKirk
New Straits Times
24-07-2025
- Business
- New Straits Times
UK-based PageGroup opens first shared services centre in Malaysia
KUALA LUMPUR: United Kingdom-based PageGroup today opened its first shared service centre (SSC) in Kuala Lumpur, marking its entry into Malaysia's SSC space and underscoring a long-term strategic investment in the country's talent landscape. The new centre will provide essential business services including finance, information technology, marketing, and human resources functions, to support the recruitment company presence across Asia Pacific. Operating in tandem with the existing SSCs in Barcelona and Buenos Aires, the Kuala Lumpur centre will offer a 'follow-the-sun' service model, enabling the company's global teams to deliver seamless talent solutions to clients and candidates around the world. As part of the first phase, over 100 roles or 75 per cent of the global business services function supporting Asia Pacific, are located in Kuala Lumpur. These roles span senior, specialist, and leadership levels and are pivotal in driving operational excellence for Asia, which accounts for 16 per cent of the group's gross profit. Key leadership appointments include the Asia Pacific SSC director, Asia Pacific head of marketing, head of order to cash, senior manager HR business partner and Asia Pacific global technology service team lead. These roles are instrumental in advancing PageGroup's digital transformation, AI adoption, financial performance and operational agility across the region. By anchoring these functions in Malaysia, PageGroup is strengthening its regional capabilities while creating high-impact career opportunities for local talent. The Kuala Lumpur SSC is also positioned for future growth, with plans to expand regional functions and leadership roles in line with the evolving needs of the regional business. PageGroup global chief executive officer Nicholas Kirk said in a statement that the centre is a key part of the company's global strategy to enhance operational efficiency and scalability. "Malaysia offers the infrastructure, business environment and future-focused mindset we need and we look forward to growing with the region in the years to come," he said.
Yahoo
10-07-2025
- Business
- Yahoo
Page Group profit tumbles amid job market woes and tariff uncertainty
Page Group has reported a hefty decline in half-year profit as recruiters grapple with a slowdown in the jobs market and uncertainty in global trade. Gross profit fell 12.3 per cent to £389.3m year-on-year on a reported basis, with a notable 13.4 per cent decline in the UK. British firms have been grappling with tax hikes and the global uncertainty created by US tariffs, leading to some of the most challenging conditions in the job market since the pandemic. Page Group said converting accepted offers into successful, longer-term placements remained the most challenging area amid wider macro-economic uncertainty. Temporary recruitment fell 9.5 per cent through the six months ended June 30, compared to a 13.4 per cent decline in permanent hires. Despite the hurdles, the London-listed recruiter said it still expected full-year operating profit to fall in line with current guidance of around £22m. Shares have fallen just over 20 per cent this year to date but edged up just over one per cent in early deals on Thursday. 'We delivered a resilient performance despite ongoing market and tariff related uncertainty, with mixed results across the group,' Nicholas Kirk, Chief Executive Officer at Pagegroup, said. Kirk noted a 'slight deterioration in activity levels and trading in Europe,' particularly in France and Germany. Gross profit in Europe, Middle East and Africa declined 17.1 per cent overall to £102.9m as market conditions worsened. Kirk said permanent recruitment 'continued to be impacted more than temporary, as clients sought flexible options and permanent candidates remained reluctant to move jobs.' While fee rates remained at high levels, client budgets have tightened and they have become more risk averse, Page Group added. 'Despite the uncertain outlook due to the unpredictable economic environment, we have a highly diversified and adaptable business model, a strong balance sheet and our cost base is under continuous review,' Kirk said. Sign in to access your portfolio
Yahoo
10-07-2025
- Business
- Yahoo
PageGroup sees jobs market remain under pressure amid tariff uncertainty
Recruitment giant PageGroup has flagged tariff uncertainty weighing on the jobs market as it revealed further trading woes and axed more roles to save costs. The firm saw gross profit drop 13.1% in the second quarter – down 10.5% with currency movements stripped out – despite a slight recovery in the US and Asia. In the UK, gross profit tumbled 14.3% to £23 million, while trading worsened in France and Germany, down 20% and 21% respectively. PageGroup cut its workforce by nearly another 200 in the second quarter as it looked to offset the difficult market, with its fee earning team reduced by 133 or 2.5% to 5,163. The group also cut 61 back office roles in the quarter. But shares lifted 3% in morning trading as the fall was not as bad as many in the City feared, while PageGroup said it was 'broadly' on track with annual profit forecasts. Nicholas Kirk, chief executive of PageGroup, said the results came against a backdrop of 'ongoing market and tariff-related uncertainty, with mixed results across the group'. He added: 'The conversion of accepted offers to placements remained the most significant area of challenge, as ongoing macroeconomic uncertainty continued to impact confidence, which extended time to hire. 'Permanent recruitment continued to be impacted more than temporary, as clients sought flexible options and permanent candidates remained reluctant to move jobs.' PageGroup said the UK market remained 'tough but stable, having delivered a similar growth rate as the previous three quarters'. Time to hire in the UK was being held back by 'ongoing subdued levels of client and candidate confidence', according to the group. It cut 56 roles in its UK operation between April and June. PageGroup said overall in the first half, gross profits fell 12.3% or 9.7% on a constant currency basis. It is forecasting full-year operating profit to more than halve, to around £22 million from £52.4 million in 2024.
The Independent
10-07-2025
- Business
- The Independent
PageGroup sees jobs market remain under pressure amid tariff uncertainty
Recruitment giant PageGroup has flagged tariff uncertainty weighing on the jobs market as it revealed further trading woes and axed more roles to save costs. The firm saw gross profit drop 13.1% in the second quarter – down 10.5% with currency movements stripped out – despite a slight recovery in the US and Asia. In the UK, gross profit tumbled 14.3% to £23 million, while trading worsened in France and Germany, down 20% and 21% respectively. PageGroup cut its workforce by nearly another 200 in the second quarter as it looked to offset the difficult market, with its fee earning team reduced by 133 or 2.5% to 5,163. The group also cut 61 back office roles in the quarter. But shares lifted 3% in morning trading as the fall was not as bad as many in the City feared, while PageGroup said it was 'broadly' on track with annual profit forecasts. Nicholas Kirk, chief executive of PageGroup, said the results came against a backdrop of 'ongoing market and tariff-related uncertainty, with mixed results across the group'. He added: 'The conversion of accepted offers to placements remained the most significant area of challenge, as ongoing macroeconomic uncertainty continued to impact confidence, which extended time to hire. 'Permanent recruitment continued to be impacted more than temporary, as clients sought flexible options and permanent candidates remained reluctant to move jobs.' PageGroup said the UK market remained 'tough but stable, having delivered a similar growth rate as the previous three quarters'. Time to hire in the UK was being held back by 'ongoing subdued levels of client and candidate confidence', according to the group. It cut 56 roles in its UK operation between April and June. PageGroup said overall in the first half, gross profits fell 12.3% or 9.7% on a constant currency basis. It is forecasting full-year operating profit to more than halve, to around £22 million from £52.4 million in 2024.
Yahoo
10-07-2025
- Business
- Yahoo
UK's PageGroup sees profit slump to $30 million in 2025
(Reuters) -British recruiter PageGroup forecast on Thursday an annual operating profit of about 22 million pounds ($29.95 million), down from last year but in line with market view, months after withholding it due to U.S. tariff uncertainty. PageGroup's performance has been decimated in recent years as troubles keep compounding for the company, which has been plagued by substantial underperformance in some European businesses and had to cut jobs in April to survive a wider sectoral slump. It had clocked in an operating profit of 52.4 million pounds in 2024. "We saw a slight deterioration in activity levels and trading in Continental Europe, particularly in our two largest markets, France and Germany," CEO Nicholas Kirk said in a statement. However, Kirk said the company saw some improvement in activity, trading and customer confidence in Asia and the U.S. The company said its second-quarter earnings fell 10.5% to 194.8 million pounds, as hiring activity remains subdued across sectors. ($1 = 0.7346 pounds)
