Financials: Michael Page Q2 profit up by 8.9%
15 July 2014
Professional recruiter Michael Page International increased gross profit by 8.9% to £137.2m in constant currencies for Q2, after seeing growth across all four of its global regions.
Tue, 15 Jul 2014
Professional recruiter Michael Page International increased gross profit by 8.9% to £137.2m in constant currencies for Q2, after seeing growth across all four of its global regions.
All four regions delivered year-on-year growth, including strong country performances from major economies such as the UK, US and China. All major EMEA countries saw positive growth, with 10 countries in the region growing by over 10%. Greater China was up 37% on the previous year, while the US was up 17%.
Permanent recruitment grew 9% and temporary recruitment grew 7% for the quarter on the previous year. This was similar for the first half of 2014, with perm and temp recruitment up 8% and 6%, respectively.
The UK increased its gross profit growth rate to 11% for the quarter and over 10% for the first half (Q1: 8%).
The business continued to experience positive momentum and greater confidence both in London and nationwide. Excluding financial services, finance & accounting (+17%) and technical disciplines such as property & construction (+28%) maintained their momentum from the first quarter.
Chief executive Steve Ingham said that growth in the UK reflected “increasing momentum in the business, especially in technical disciplines and in finance & accounting, however we are starting to see greater levels of candidate shortages across a number of specialisms, such as digital and creative”.
Ingham said that Page Personnel showed “excellent Q2 results” growing by 20% year-on-year, and up 17% for the first half.
He added that overall “key optimisms remain positive”.
Professional recruiter Michael Page International increased gross profit by 8.9% to £137.2m in constant currencies for Q2, after seeing growth across all four of its global regions.
All four regions delivered year-on-year growth, including strong country performances from major economies such as the UK, US and China. All major EMEA countries saw positive growth, with 10 countries in the region growing by over 10%. Greater China was up 37% on the previous year, while the US was up 17%.
Permanent recruitment grew 9% and temporary recruitment grew 7% for the quarter on the previous year. This was similar for the first half of 2014, with perm and temp recruitment up 8% and 6%, respectively.
The UK increased its gross profit growth rate to 11% for the quarter and over 10% for the first half (Q1: 8%).
The business continued to experience positive momentum and greater confidence both in London and nationwide. Excluding financial services, finance & accounting (+17%) and technical disciplines such as property & construction (+28%) maintained their momentum from the first quarter.
Chief executive Steve Ingham said that growth in the UK reflected “increasing momentum in the business, especially in technical disciplines and in finance & accounting, however we are starting to see greater levels of candidate shortages across a number of specialisms, such as digital and creative”.
Ingham said that Page Personnel showed “excellent Q2 results” growing by 20% year-on-year, and up 17% for the first half.
He added that overall “key optimisms remain positive”.
