Page Group sees robust profit growth

 
Chris Papadopoullos
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UK recruiters Page Group – formerly Michael Page – posted a 12.9 per cent annual rise in gross profit for the final three months of 2014, according to a trading update released yesterday.

Shares in the company rose to £4.53 in London yesterday.

The firm’s gross profit for 2014 increased by 10 per cent to £523.7m compared to 2013.

The best performing markets were the UK and the Americas which saw full year gross profit growth of 11.5 per cent and 12.9 per cent respectively. In year-on-year terms, gross profit in the UK climbed by 11 per cent in the final three months of 2014.

“The UK delivered a strong performance, despite its growth rate slowing slightly from the previous quarter,” said chief executive Steve Ingham. Page Group has recently rebranded and now has various brands including Michael Page and Page Personnel.

“Page Personnel, driven by the finance and accounting disciplines, performed particularly well, while Michael Page saw the greatest growth in the technical disciplines, such as engineering and property and construction,” Ingham said.

The company also added 81 fee-earning staff in the final three months and, in 2014, total headcount grew by 448.

“We expect operating profit before a small positive exceptional to be a minimum of current market consensus, implying growth of over 20 per cent in constant currencies,” Ingham said.