PageGroup reports profit drop amid Middle East conflict
PageGroup reported a 4.9 percent drop in quarterly profit as Middle East tensions impact hiring. Candidate caution and European weakness weigh on recruitment.
PAGEGROUP PLC has warned that the ongoing crisis in Iran is creating significant uncertainty for the global recruitment market through 2026. The specialist firm reported that geopolitical instability in the Middle East has increased the likelihood of hiring freezes and made professionals more cautious about seeking new employment opportunities.
The recruitment specialist, which focuses on white-collar roles, saw its first-quarter gross profit fall by 4.9% to 187 million pounds. This result represents the 13th consecutive quarter of declining fees for the group. While there was some growth observed in the United States and the Asia Pacific region, these gains were offset by persistent weakness in major European markets, specifically France and Germany.