According to a trading update for Q3 2018, overall GP increased from £177.2m to £207.7m, with GP up 30.1% in constant currency in the Americas from £26m to £31.9m,  up 27.7% in Asia Pacific from £37m to £46m, up 20.9% in EMEA from £79.3m to £94.6m and 0.4% in the UK from £34.9m to £35.2m. 

CEO Steve Ingham said: “The group delivered GP growth of 19.7% in constant currencies, its highest quarterly growth rate since Q3 2011, with 22 countries growing over 20% and all of our four regions delivering growth. 

“Our large, high potential markets grew 30% collectively, with all five delivering record quarters. Germany continued its recent strong performances, with growth of 34%. In Asia Pacific, Greater China improved from its Q2 growth rate of 18%, delivering growth of 31%. We also saw continued improvement in South East Asia, with growth of 24% collectively. 

“The US grew 26%, Latin America was up 34%, including Brazil up 20%, and the other five countries in Latin America up 41% collectively. 

“In our six large, proven markets, the UK returned to growth, up 0.8%, despite continued Brexit related uncertainty, and notably, Page Personnel, which grew 17%. France grew 21% with strong results from both Michael Page and Page Personnel. Italy and the Netherlands continued to perform well, up 18% and 14%, respectively. Spain, despite the continued challenges in Catalonia, grew 8%, in line with its Q2 growth rate. In Australia, following our investments in fee earner headcount and a new office in Canberra, we continued to see improvement, with growth of 17%.

“Outside these two categories, we saw strong growth in the majority of our other markets. India and Japan had record performances as a result of our continued investment, growing 68% and 38% respectively. 

“Demonstrating our continued confidence in many of our markets, the group added 242 fee earners in the quarter and now has a record total headcount of 7,718. This investment has been mainly into our large, high potential markets. 

“We will continue to focus on driving profitable growth as we progress towards our vision of 10,000 headcount, £1bn of gross profit and £200m – £250m of operating profit.”

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