Page 1

9 August 2021 PageGroup Half Year Results for the Period Ended 30 June 2021 Strong Financial and Operational Performance PageGroup plc ( “ PageGroup ” ) , the specialist professional recruitment company , announces its unaudited half year results for the period ended 30 June 2021 . Note : Given the magnitude of the impact of COVID - 19 in 2020 , we are providing comparisons in constant currencies against 2019 , to ensure the most appropriate representation of current trading . Comparisons to 2020 are also given in the tables . Financial summary ( 6 months to 30 June 2021 ) Revenue Gross profit Operating profit Profit / ( Loss ) before tax Basic earnings / ( loss ) per share Diluted earnings / ( loss ) per share Interim dividend per share Special dividend per share Reported vs. 2020 £ 766.4m £ 655.0m £ 820.5m + 17.0 % £ 404.2m £ 300.7m £ 433.5m + 34.4 % £ 75.6m > 100 % £ 64.3m £ 0.4m £ 63.7m - £ 0.8m £ 74.6m > 100 % 12.2p -0.5p 16.8p > 100 % 12.1p -0.5p 16.8p 2021 4.70p 26.71p 2020 2019 4.30p 12.73p > 100 % CC vs 2020 * + 19.7 % + 38.3 % > 100 % CC vs 2019 * -4.2 % -3.7 % -12.5 % H1 Summary Group operating profit of £ 64.3m ( H1 2020 : £ 0.4m ; H1 2019 : £ 75.6m ) Conversion rate ** increased to 15.9 % ( H1 2020 : 0.1 % ; H1 2019 : 17.4 % ) Gross profit per fee earner up 10.7 % on H1 2019 to £ 75.8k ( H1 2020 : £ 53.2k , H1 2019 : £ 70.7k ) Total headcount increased by 381 ( 5.7 % ) to 7,075 at the end of June , but remains down c . 8 % on pre COVID - 19 levels at the end of 2019 Strong Balance Sheet , with net cash of £ 163.8m ( H1 2020 : £ 161.7m , H1 2019 : £ 81.7m ) Returning to dividend policy , interim dividend of 4.70 pence per share and special dividend of 26.71 pence per share , together totalling £ 100m Outlook upgraded on 7 July 2021 , full year operating profit expected to be within the range of £ 125m - £ 135m * in constant currencies ** operating profit as a percentage of gross profit Commenting , Steve Ingham , Chief Executive Officer , 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 . The tough and challenging year in 2020 has strengthened our culture , diversity and the values in the business which are now re - affirmed at the forefront of our operations . I am immensely proud of the spirit , resilience , and commitment of all our people . This , I believe , is reflected in our results . " Gross profit for the first half was down just 3.7 % on H1 2019 , our record year , and we have delivered operating profit of £ 64.3m in H1 2021 , at a conversion rate of 15.9 % .