Michael Page growth driven by recruitment in the UK and China

Recruitment firm Michael Page announced an 8.9 per cent increase in gross profits (Source: Getty Images)
Recruitment firm Michael Page reported a solid rise in earnings yesterday, announcing an 8.9 per cent increase in gross profits during the second quarter.

The company’s profits rose to £137.2m during the second quarter, raised particularly by the UK and Asia-Pacific regions, up by 11.1 per cent and 14.2 per cent during the year. Profits from Europe, the Middle East and Africa rose more slowly, up by five per cent.

“We are seeing more instances of candidate shortages in a number of markets and disciplines,” said Steve Ingham, chief executive of Michael Page.

“As a result, we increased headcount by 72 consultants (two per cent) during the second quarter and over 175 for the first half.”

The company also noted that foreign exchange conditions had been a drag on its performance.

Profits rose by 8.7 per cent in constant terms from the Americas during the period, but were down 6.6 per cent after accounting for the stronger pound.

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