Michael Page on track for good year as profits in Europe rise

 
Adam Hignett
RECRUITMENT firm Michael Page said it was on track to meet its full year targets after recording an 11 per cent increase in gross profit during the first quarter.

The British firm saw gross profits rise across all regions with European markets, accounting for 40 per cent of group profits, up 12 per cent in the three months to 31 March. Finance and accounting was the fastest growing discipline for placements at the firm, with gross profits up almost 14 per cent during the period.

Overall the company said gross profit for the quarter rose to £136m compared to £127m over the same period last year.

Chief executive Steve Ingham said: “Having added 468 fee-earners in 2014, new additions slowed in the first quarter to 65 as we focussed on improving conversion rates. We are pleased with our performance and looking ahead expect similar trends to prevail across our major regions.”