The recruitment industry has had a tough time of late but this morning’s Q3 numbers from PageGroup have given investors something to cheer. Whilst revenues continue to decline, the company did report a modest fourth successive quarter of growth in the US. Gross profit per fee earner is up and the cash position has also been bolstered QoQ, whilst cost control measures also continue to prove effective. The full year outlook has been reiterated and the PageGroup share price is up around 3% in early trade.
The online gambling and sports betting group Entain also issued Q3 numbers this morning, following yesterday’s note of revised full year guidance for its BetMGM division. That may have given the stock a short lived shot-in-the-arm, but investors are on the back foot again this morning. Despite improved net gaming revenues, the note highlighted that customer friendly outcomes last month had been in evidence although full year EBITDA guidance remains on track. There’s also the question as to whether the industry will be targeted in next month’s UK budget, which has left the Entain share price down around 2% shortly after the open.
A foray down to the small caps with Oxford Metrics providing a trading update this morning for the full year to 30th September. The group expects to report adjusted EBIT and group revenues broadly in line with market expectations, whilst the cash position of £37m is also noted, although that’s down around 25% from a year ago. Investors have however given the news a positive response, with the Oxford Metrics share price up more than 10% by 8.45am.
Most read news on Investegate this morning
Q3 Trading Update - - Entain (ENT)
Proposed £30m ATM facility & £5m CLN Issuance - - Hamak Gold Limited NPV (DI) (HAMA)
