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☆ Deutsche Bank names its top UK picks with compounding growth potential — and one has more than 50% upside
▼ + stars: | 2024-12-10 | by ( Ganesh Rao | ) www.cnbc.com time to read: +1 min

Deutsche Bank has named seven London-listed companies in the business services sector as its "top picks for 2025," highlighting stocks with strong growth potential and defensive characteristics in an uncertain market environment. The investment bank highlighted Diploma , Experian , JTC , PageGroup , Renew Holdings , Rentokil , and XPS Pensions Group as companies positioned for sustained growth. Among the picks, recruitment firm PageGroup stands out for having the highest potential upside at more than 50%, with Deutsche Bank giving it a price target of 5,500 pence. Deutsche Bank acknowledged that PageGroup is a cyclical stock, meaning it is likely to rebound when economic activity takes off. Deutsche Bank also described Diploma, a key supply chain and distribution company, as a "top compounder" that's "well placed for 2025."

Persons: PageGroup, Donald Trump Organizations: Deutsche Bank, Holdings Locations: London, U.S

☆ PageGroup sees 29% slump in annual profit on tough market conditions
▼ + stars: | 2023-04-17 | by ( ) www.reuters.com time to read: +1 min

April 17 (Reuters) - Global recruiter PageGroup Plc (PAGE.L) on Monday forecast a near 29% slump in its annual profit and said the challenging conditions it experienced towards the end of 2022 have continued into 2023. PageGroup now expects annual operating profit to be in line with a company-compiled consensus of 140 million pounds ($173.9 million), way below the 196.1 million pounds it reported for fiscal year 2022. High inflation and persistent recession worries have forced many companies to cut jobs or freeze hiring, and prefer temporary hiring over permanent roles in their bid to minimise potential risks. The FTSE midcap (.FTMC) firm also posted a 2.4% decline in gross profit at 262.7 million pounds in constant currency terms for the three months ended March 31, mainly weighed down by performance in the Asia Pacific region. ($1 = 0.8054 pounds)Reporting by Aby Jose Koilparambil in Bengaluru; editing by Uttaresh VenkateshwaranOur Standards: The Thomson Reuters Trust Principles.

☆ Recruiter PageGroup sees 29% slump in annual profit on tough market conditions
▼ + stars: | 2023-04-17 | by ( ) www.reuters.com time to read: +2 min

SummarySummary Companies First-quarter gross profit down 2.4% at 262.7 mln poundsQuarterly gross profit in U.S. market declines 15%Sees FY operating profit of 140 mln poundsApril 17 (Reuters) - PageGroup (PAGE.L) on Monday became the latest recruiter to warn of tough conditions in the labour market as it forecast a near 29% slump in 2023 profit, partly hit by weakness in the technology and banking sectors in the United States. PageGroup along with peers Hays and Robert Walters have flagged weakness in the permanent hiring market because employers were turning to interim hires to ride out market uncertainty amid a tough economic outlook. PageGroup's gross profit in permanent recruitment fell 7.2% in the first quarter on constant currency terms, while temporary jobs jumped about 15%. It now expects annual operating profit to be in line with a company-compiled consensus of 140 million pounds ($173.9 million), way below the 196.1 million pounds it reported for fiscal year 2022. The FTSE midcap (.FTMC) firm also posted a 2.4% decline in gross profit at 262.7 million pounds for the three months to March 31.

☆ Crisis jolts Wall Street bankers already resigned to tough job market
▼ + stars: | 2023-04-05 | by ( Tatiana Bautzer | ) www.reuters.com time to read: +5 min

NEW YORK (Reuters) - Wall Street bankers face an increasingly gloomy job market after last month’s banking crisis worsened an already bleak outlook for pay and staffing. One likely consequence of the turmoil is that banks tighten their lending standards, which could further hinder dealmaking - making the prospects for jobs and compensation on Wall Street more gloomy. Now, financial industry workers are fretting not only about pay, but job security. The Wall Street giant typically cuts about 5% of its lowest-performing staff as part of the process. While there are plenty of reasons to be glum, Wall Street workers are enjoying one silver lining after the pandemic: greater flexibility in structuring their workday.

☆ Robert Walters posts higher profit on strong hiring trends
▼ + stars: | 2022-10-11 | by ( ) www.reuters.com time to read: +1 min

Oct 11 (Reuters) - British recruitment firm Robert Walters (RWA.L) on Tuesday reported a 22% jump in its third-quarter gross profit, as hiring stayed robust amid intense competition to fill up vacancies. Register now for FREE unlimited access to Reuters.com RegisterThe company's gross profit rose to 112 million pounds ($123.5 million) for the quarter ended Sept. 30, compared with 91.8 million pounds a year earlier. Its quarterly gross profit for UK, however, fell 6%, owing to more challenging market conditions across technology recruitment and resource solutions. Peers PageGroup (PAGE.L) and Hays (HAYS.L), which have also seen a combination of talent shortages and wage hike leading to sharp increase in their net fees, are expected to report their quarterly results this week. Robert Walters, which forecast its annual profit to be in line with current market expectations, also named Leslie Van de Walle as non-executive chair.

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