PageGroup announced its full-year results for the year ended 31 December 2019. Revenue increased 6.7% to £1,653.9m and PBT increased 1.4% to £144.2m. Basic EPS decreased 0.9% to 32.2p while total dividend per share increased 4.6% to 13.70p. The company also paid a special dividend of 12.73p per share in October 2019, totaling £40.7m.
Cash flow in the year was strong, with £194.1m generated from operations. The closing cash balance stood at £97.8m as of 31 December 2019, broadly in line with the prior year. The conversion rate decreased to 17.1% due to the tough trading conditions in a number of the group’s markets.
Steve Ingham, PageGroup’s CEO, said: “PageGroup continues to have a flexible and highly diversified business model that enables us to react quickly to changes in market conditions. We are clear market leaders in many of our markets, with a highly experienced senior management team, which, we believe, positions us well to take advantage of all opportunities during 2020. We will continue to focus on driving profitable growth while progressing our strategic investments towards our Vision of 10,000 headcounts, £1bn of gross profit and £200m – £250m of operating profit.”
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