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UK's PageGroup down after lower profit

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** British recruiter PageGroup's PAGE.L shares down nearly 5% at 460p; among top losers on FTSE 250 index .FTMC

** Reports nearly 13% drop in group gross profit in the first three months of 2024 due to slow hiring across its markets

** Posts group gross profit of 219.7 million pounds ($273.83 million), down 12.8% from a year-ago period

** Adds that job flows deteriorated toward the end of the quarter

** Exited quarter with an 18% drop in March job flows

** "Conversion of final interviews to accepted offers is still the most significant challenge, as candidate and client sentiment remains subdued reflecting the general macro-economic uncertainty in most of our markets" - CEO Nicholas Kirk

** Reports a more than 19% drop in gross profit in the UK, while EMEA and Asia Pacific were down 12.7% and 15.7% respectively, Americas down 5.5%

** Analysts at Jefferies say it was weaker than expected momentum in every division except Americas

** As of last close, stock up about 11% in the last 12 months

($1 = 0.8023 pounds)

Reporting by Radhika Anilkumar in Bengaluru


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