Commenting on PageGroup’s full-year results, Chloe Austin, Director and Senior Analyst in Professional and Business Services at RSM UK said: “PageGroup’s full-year results demonstrate strength in a challenging year for recruitment markets globally. Whilst group gross and operating profit declined by 8.7% and 60.2% year on year, the results are broadly in line with expectations and indicate operational resilience, despite muted client and candidate confidence across many of its core markets.

“The varied regional picture reflects the dynamics we’ve seen across much of the sector. Asia Pacific saw a 6.4% gross profit growth in Q4 2025 alone and the US contributed 5% growth, marking its fifth consecutive quarter of growth. Meanwhile, Europe and the UK reflected continued caution from employers, delaying hiring decisions and lengthening recruitment cycles. This international diversification has helped to stabilise performance and reinforces the long-term structural importance of diversified geographic exposure.

“There’s been a noticeable sector-wide shift in focus towards productivity. PageGroup’s 0.3% uplift in gross profit per fee earner (when based on constant currencies) reflects a broader pattern of recruitment businesses becoming leaner, more data driven and more selective about how they deploy their talent. And the completion of PageGroup’s cost optimisation programme - delivering savings of £5m in FY25 and preparing the ground for additional saving of £15m in 2026 - mirrors a wider trend of firms tightening operating models while preserving strategic capacity.

“Whilst the sector continues to navigate uncertainty around when and how well hiring confidence will recover, PageGroup’s strategy of maintaining cash, reallocating resources toward higher opportunity markets and keeping a disciplined approach to headcount places it in a strong position for growth when sentiment turns.”

Related news