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Three Quick Facts: PageGroup, QinetiQ and Quiz

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Three things you need to know in the financial markets today from investment writer, Tony Cross.

#1. Gross profits down at PageGroup despite plentiful job opps

There’s a Q1 trading statement out from PageGroup LON:PAGE this morning which has the potential to cause some concern not only for the company but also the wider economy. Gross profits are down 2.4%, fee earner headcount is down by almost 5% and productivity is off by 8%. Full year profit forecasts remain unchanged with the company adding that despite the macroeconomic uncertainty, candidate shortages and high levels of vacancies persist.

#2. QinetiQ: record order intake noted

QinetiQ LON:QQ. has served up Q4 numbers this morning, noting full year order intake is up by 40% at a record high and revenue growth is expected to be in the high teens in percentage terms with stable margins. Operating profit will be no less than £175m and revenue has been reduced below 1x, ahead of guidance.

#3. Quiz: strong consumer rebound seen, FY24 visibility lacking

Omni-channel fashion retailer Quiz LON:QUIZ has published its FY23 trading update today, showing total revenues up by 17% with all territories improving but a significant weighting towards the UK. That’s off the back of a strong recovery in consumer demand at the start of the financial year, although management are mindful of the ongoing squeeze on consumer spending. Profitability for FY23 is expected to be not less than £2m before tax but economic headwinds are admittedly making visibility for FY24 more challenging.

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This article does not constitute investment advice. Make sure you do your own research or consult a professional advisor.

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