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Recruiter PageGroup is cautious. Its shareholders? Not so much.

Shares in the FTSE 250 company have jumped 7 per cent after the group stressed that the fallout from Brexit poses risks for the coming months and years by hurting confidence and generating uncertainty. Already, a gap in profitability is growing between its UK businesses and that of the rest of Europe.

But profits for the quarter, at £170.3m, marked a record, and a jump of over 9 per cent on the previous year.

Investors appear to be accentuating the positive.

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