REG - PageGroup plc - Capital Markets Event

PagegroupAnnouncement

20/09/2023 07:00

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RNS Number : 9829M  PageGroup plc  20 September 2023

 

 

 

 

PageGroup plc

 

Capital Markets Event

 

Updated Strategy targeting £400m Operating Profit and £1.5bn in shareholder
distributions by 2030

 

 

PageGroup plc ("PageGroup" or the "Group") will this afternoon, at 3.00pm
(BST), hold a capital markets event for investors and analysts. The event will
be held in person at the London Stock Exchange Group, 10 Paternoster Square,
London, EC4M 7LS (Room Forum) and available virtually at the following link:

 

https://pagegroup.connectid.cloud/
(https://protect-eu.mimecast.com/s/TKh-Cl5qOU2vvPoBHj6YAc?domain=pagegroup.connectid.cloud/)

 

During the event, senior management will present the refined Group strategy.
In particular, we will detail how we intend to attain our three new strategic
goals to be delivered by 2030, those being:

 

·    £400m Operating Profit

·    A Net Promoter Score of 60+

·    One Million Lives changed

 

We will explain how we intend to deliver these goals by growing our core
business, as well as focusing on our new strategic areas of growth - namely
Technology, Page Executive and Strategic Customers.

 

During the event we will also outline how the Group aims to achieve a
conversion rate in excess of 20%.

 

We believe that the achievement of these goals will generate capital
distributions to shareholders of over £1.5bn during the period to 2030.

 

As part of this refined strategy and our increased focus on our conversion
rate target, we have already implemented a number of initiatives to reduce our
cost base. These initiatives will incur a one off cost in 2023 of c. £15m,
offset by the majority of the cost savings being realised in FY23. The net
negative impact this year will be c. £5m. Going forward, we expect these
initiatives to deliver annualised savings of c. £20m per annum compared to
our FY23 cost base from FY24 onwards.

 

 

PageGroup

Julia Dickson, Group Financial Controller          01932 264032

 

FTI Consulting

Richard Mountain / Susanne Yule                      020
3727 1340

 

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