Earnings release
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6 October 2021 ● Q3 Highlights Group gross profit of £ 228.1m , + 65.4 % vs. 2020 ( + 12.9 % vs. 2019 ) Improvement in the exit rate , exiting September at + 26 % vs. 2019 Gross profit per fee earner up 21 % on Q3 2019 Large , High Potential markets ( 40 % of Group ) + 27 % vs. 2019 ● ● ● ● ● ● STRONG PERFORMANCE , CONTINUED INVESTMENT , PROFIT GUIDANCE INCREASED ● EMEA + 9.9 % : France -8 % ; Germany + 33 % all vs. 2019 Asia Pacific +20.4 % : Greater China + 21 % ; SE Asia + 29 % ; Japan + 36 % ; India + 72 % all vs. 2019 Americas + 24.6 % : US + 28 % ; Latin America + 22 % all vs. 2019 PageGroup UK + 1.3 % : Michael Page + 6 % ; Page Personnel -13 % all vs. 2019 Increase in fee earner headcount of 329 to 5,772 ( Q3 2019 : 6,081 ) Strong cash position , net cash of c . £ 195m ( Q2 2021 : c . £ 164m , Q3 2020 : c . £ 152m ) Interim and special dividends of £ 100.2m to be paid on 13 October 2021 Outlook Full year operating profit expected to be in the region of £ 155m Note : Given the magnitude of the impact of COVID - 19 in 2020 , we are also providing comparisons in constant currencies against 2019 , to ensure the most appropriate representation of current trading . Q3 Gross Profit Analysis Year - on - year EMEA Asia Pacific Americas UK Total % of Group 46 % 22 % 17 % 15 % 100 % PageGroup Gross Profit ( £ m ) 2021 2020 105.9 76.5 48.9 30.3 39.1 19.1 34.2 17.6 228.1 143.5 2019 101.6 44.1 37.3 33.8 216.8 Growth Rates ( % ) Reported Constant vs. 2020 Vvs . 2020 Constant vs. 2019 + 38.3 % + 45.8 % + 9.9 % + 61.8 % + 68.2 % + 20.4 % + 104.2 % + 113.4 % + 24.6 % + 94.3 % + 94.3 % + 1.3 % + 65.4 % + 12.9 % + 58.9 % Steve Ingham , Chief Executive Officer , PageGroup , said : " I am pleased to report that the improvement in results we saw in Q2 continued into Q3 , with the Group reporting growth of 65.4 % vs. 2020 and 12.9 % vs. 2019. Given the magnitude of the impact of COVID - 19 on 2020 , we are continuing to compare our results to 2019 , our record gross profit year . " We exited the quarter strongly with September up 26 % on 2019 compared with July and August , up 4 % and 9 % vs. 2019 respectively . This noticeable improvement and record performance in Q3 was seen throughout the Group and was achieved despite the backdrop of continued restrictions or lockdowns in many of our markets . Worldwide leaders in specialist recruitment page.com