FTSE 250 movers: PageGroup slumps on cautious outlook
By Frank Prenesti
Date: Monday 08 Aug 2022
(Sharecast News) -
The FTSE 250 was up 0.61% at 20,173.78 at 1536 BST.
PageGroup backed its full-year expectations on Monday as it posted a rise in first-half pre-tax profit and revenue, but also struck a note of caution in its outlook, sending shares in the recruiter sliding.
In the six months to 30 June, pre-tax profit grew 80% to £114.5m, while revenues were up 27.5% at £977.3m, as the company hailed a strong performance across its geographies, disciplines and brands,
The interim dividend was lifted to 4.91p a share from 4.70p in the same period a year earlier.
PageGroup said it had seen "a slight slowing in time to hire" in some of its markets in July and that it continues to closely monitor its forward-looking KPIs. Nevertheless, it reaffirmed its expectations for full-year operating profit to be in line with company-compiled consensus of £206m.
The news hit shares in rival recruiter Hays, with the shares down almost 4%.
Shipping services company Clarkson fell, despite reporting a jump in interim profit, driven by its broking division.
Pre-tax profit rose to £42m from £27.3m. Revenue surged to £266m from £190.1m.
In the broking unit, results were boosted by strong performances in the dry cargo, sale and purchase and tanker markets as sustained volumes and rates buoyed profits.
Ongoing supply chain constraints due to the Covid-19 pandemic, including continued high levels of port congestion, reduced vessel speeds and the onset of the war in Ukraine, further disrupted seaborne trade.
FTSE 250 - Risers
Apax Global Alpha Limited (APAX) 191.00p 6.11%
Carnival (CCL) 760.40p 5.17%
Wizz Air Holdings (WIZZ) 2,270.00p 3.89%
Synthomer (SYNT) 195.30p 3.77%
Ascential (ASCL) 248.60p 3.58%
Man Group (EMG) 247.50p 3.38%
Weir Group (WEIR) 1,687.00p 3.15%
IntegraFin Holding (IHP) 275.40p 3.07%
Bellevue Healthcare Trust (Red) (BBH) 179.60p 2.86%
Safestore Holdings (SAFE) 1,115.00p 2.86%
FTSE 250 - Fallers
Pagegroup (PAGE) 415.60p -7.97%
Future (FUTR) 1,779.00p -4.61%
Clarkson (CKN) 3,415.00p -3.94%
Hays (HAS) 122.30p -3.70%
Auction Technology Group (ATG) 958.00p -3.04%
IP Group (IPO) 80.85p -2.59%
Molten Ventures (GROW) 448.00p -2.57%
Hilton Food Group (HFG) 1,012.00p -2.50%
HGCapital Trust (HGT) 371.00p -2.24%
Darktrace (DARK) 379.60p -2.06%
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