Business
2008 Fourth Quarter and Full
2008 Fourth Quarter and Full.
About this update from Pagegroup Plc
[{"type":"text","content":"\n RNS Number : 3026L Michael Page International PLC 08 January 2009 \n \n\n\n8 January 2009\n\n2008 FOURTH QUARTER AND\nFULL YEAR TRADING UPDATE\n\nFINANCIAL HIGHLIGHTS\nFourth Quarter\n\n\nGroup Q4 gross profit of £118.8m (2007: £128.1m) a decrease of 7.3% (-16.1%*) \n\n\nEMEA gross profit (50.2% of Group) of £59.6m (2007: £57.6m) an increase of 3.4% (-11.8%*)\n\n\nUK gross profit (30.4% of Group) of £36.1m (2007: 45.0m) a decrease of 19.7% \n\n\nAsia-Pacific gross profit (10.4% of Group) of £12.4m (2007: 14.8m) a decrease of 16.4% (-24.4%*)\n\n\nAmericas gross profit (9.0% of Group) of £10.7m (2007: £10.7m) a decrease of 0.3% (-13.2%*) \n\n\nPermanent gross profit (73% of Group) lower by 13.0% (-22.1%*)\n\n\nTemporary gross profit (27% of Group) growth of 12.6% (+4.6%*)\n\n\nGroup headcount decreased by 509 in Q4 to 4,943 below that of the 2007 year end largely by natural attrition\n\n\n\nFull Year\n\n\nRecord Group gross profit of £552.7m (2007: £478.1m) an increase of 15.6% (+5.8%*)\n\n\nEMEA gross profit of £258.6m (2007: £196.5m) an increase of 31.7% (+13.8%*) \n\n\nUK gross profit of £176.7m (2007: £186.0m) a decrease of 5%\n\n\nAsia-Pacific gross profit of £66.8m (2007: £57.2m) an increase of 16.7% (+5.2%*)\n\n\nAmericas gross profit £50.6m (2007: £38.4m) an increase of 31.7% (+18.0%*)\n\n\nPermanent gross profit (77% of Group) growth of 14.4% (+4.1%*)\n\n\nTemporary gross profit (23% of Group) growth of 19.7% (+11.7%*)\n\n\nGroup pre tax profit for the year in the region of £140m (2007: £147m)\n\n\nGroup year end net cash in the region of £85m (2007: £10.3m)\n\n\n\n* Denotes where overseas results denominated in foreign currencies have been translated at constant rates of exchange for constant currency illustrative purposes.\n\n\nIn its trading statement on 4 December 2008, the Group reported that market conditions became increasingly challenging during the fourth quarter. The turmoil in the financial sector had eroded confidence more generally and was impacting virtually every industry sector and geogra...