THREE of the capital’s largest recruitment firms are due to provide trading updates this week.
Robert Walters is due to report third quarter gross profit today.
Hays is due to publish first quarter growth figures tomorrow, while Michael Page will announce third quarter figures on the same day.
Fund managers Collins Stewart yesterday forecast gross profit in the range of £110m and £113m for Michael Page and £40.5m for Robert Walters. However, it said it expected growth to be broadly flat at Hays, arguing its exposure to the public sector in the UK could potentially hold growth back despite the fact it is making greater in-roads into continental Europe and Asia.
Collins Stewart upgraded its recommendation on Robert Walters to “buy” from “hold” while remaining neutral on Hays and Michael Page.
Hays only announced its full-year results to 30 June five weeks ago.
An City insider told City A.M. that analysts will be looking to see whether it has lowered its public sector exposure since then.