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9 April 2021 ● Q1 Highlights * Group gross profit of £ 184.2m , + 2.0 % vs. Q1 2020 and -9.9 % vs. Q1 2019 Monthly sequential improvement through the quarter , exiting March at + 31 % vs. 2020 and -2 % vs. 2019 ● ● ● PageGroup Large , High Potential markets ( 36 % of Group ) + 10 % EMEA + 3.6 % : France -7 % ; Germany + 15 % Asia Pacific + 15.3 % : Greater China + 45 % ; SE Asia + 12 % ; India + 15 % FIRST QUARTER 2021 TRADING UPDATE Americas -4.3 % : US -9 % ; Latin America + 4 % UK -11.0 % : Michael Page -5 % ; Page Personnel -27 % Strong cash position , net cash of c . £ 136m ( Q4 2020 : £ 166m , Q1 2020 : £ 83m ) Increase in fee earner headcount of 122 to 5,267 ( Q1 2020 : 5,923 ) Outlook Full year operating profit expected to be within the range of £ 90m - £ 100m * In constant currencies except where stated otherwise Year - on - year Q1 Gross Profit Analysis Given the magnitude of the impact of COVID - 19 in 2020 , we are also including comparisons against 2019 to ensure the most appropriate representation of current trading . EMEA Asia Pacific Americas UK Total % of Group 52 % 19 % 15 % 14 % 100 % Q1 2021 95.9 35.9 26.8 25.6 184.2 Reported ( £ m ) Q1 2020 91.2 31.3 30.9 28.9 182.3 % + 5.1 % + 14.8 % -13.5 % -11.0 % + 1.0 % Constant vs. 2020 % + 3.6 % + 15.3 % -4.3 % -11.0 % + 2.0 % Constant vs. 2019 % -8.4 % -4.2 % -5.6 % -25.1 % -9.9 % Steve Ingham , Chief Executive Officer , PageGroup , said : " Throughout the pandemic we have continued to focus on the protection and wellbeing of our employees , candidates and clients , whilst progressing strategic investments in our platform to take advantage of the recovery . " I am pleased to report that year - on - year results in each of the three months of the first quarter improved sequentially , continuing the monthly trend since May last year . January and February were down 13 % and 10 % respectively , compared to 2020 , with March growing 31 % . Significantly , our performance in March was down just 2 % on 2019. This noticeable improvement in March was seen throughout the Group and was achieved despite the backdrop of continued and increasing restrictions or lockdowns in many of our markets . We delivered record months in March in markets such as Germany , Italy , Spain and South East Asia . At this stage of the recovery , it is not easy to determine whether the improved performance is the result of pent - up supply and demand , or the PageGroup Worldwide leaders in specialist recruitment page.com