PageGroup reported a 4.6% drop in fourth‑quarter gross profit, falling to £190.7 million from £200.1 million a year earlier. The decline stems from weaker demand in Europe and the UK, where client hiring slowed, offsetting gains in the Americas and Asia Pacific. In the quarter, France saw a 17% slide, Germany fell 5%, while Spain grew 10%.

The Americas added £0.8 million, and Asia Pacific posted a modest £0.7 million rise, marking the third straight quarter of growth in the region. Permanent placements, still the bulk of revenue, slipped 3.7 million, while temporary work dipped 1.5 million. Headcount fell 75, to 4,968, yet gross profit per fee earner rose 3 %.

Full‑year gross profit slid to £768.2 million, and the board projects 2025 operating profit near last year’s £21.1 million. Cost‑cutting plans aim to save £15 million annually from 2026, while foreign‑exchange gains added £2.9 million to reported profit. Shares fell over 2% after the announcement, reflecting investor concern over the sluggish European market.