Business
Q1 2013 Interim Management Statement
Q1 2013 Interim Management Statement.
About this update from Pagegroup Plc
[{"type":"text","content":"\n \nRNS Number : 4082C Michael Page International PLC 16 April 2013 \n \n\n16 April 2013\n \nFIRST QUARTER 2013 INTERIM MANAGEMENT STATEMENT\n \n \n \nQ1 GROSS PROFIT ANALYSIS\n\n\n\n\n\n\n\n\n\n\nReported\n\n\nConstant\n\n\n\n\n \nYear-on-year gross profit\n\n\n% of Group Q1\n\n\nQ1 2013\n\n\nQ1 2012\n\n\n%\n\n\n%\n\n\n\n\nEMEA \n\n\n41%\n\n\n£52.0m\n\n\n£60.3m\n\n\n-13.8%\n\n\n-15.1%\n\n\n\n\nUK\n\n\n24%\n\n\n£30.2m\n\n\n£30.6m\n\n\n-1.2%\n\n\n-1.2%\n\n\n\n\nAsia Pacific\n\n\n20%\n\n\n£26.1m\n\n\n£26.3m\n\n\n-0.7%\n\n\n-0.3%\n\n\n\n\nAmericas\n\n\n15%\n\n\n£18.5m\n\n\n£18.7m\n\n\n-1.4%\n\n\n+2.2%\n\n\n\n\nTotal\n\n\n100%\n\n\n£126.8m\n\n\n£135.9m\n\n\n-6.7%\n\n\n-6.7%\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nPermanent \n\n\n77%\n\n\n£98.3m\n\n\n£106.5m\n\n\n-7.7%\n\n\n-7.6%\n\n\n\n\nTemporary\n\n\n23%\n\n\n£28.5m\n\n\n£29.4m\n\n\n-3.1%\n\n\n-3.6%\n\n\n\n\n \n \nCommenting, Steve Ingham, Chief Executive said:\n \n\"The Group reported gross profit of £127m, up 0.2% on the fourth quarter, although down 6.7% year-on-year against a strong comparative performance. This robust result was achieved despite continuing tough economic conditions and weak market confidence across all our regions.\n \n\"We saw good performances in some of our regions, with Asia and North America delivering the strongest gross profit performances up 14% and 16% respectively year-on-year in constant currency. Our offices in Greater China, Japan, Mexico, the Middle East, and the USA performed particularly well, as did some of our smaller, newer businesses in Europe, Latin America and Asia. However, our businesses in France and Germany, where we operate predominantly in permanent recruitment, experienced another challenging quarter, down 17% and 27% respectively against strong comparables year-on-year in constant currency.\n \n\"Activity levels remained strong in the quarter, but with difficult trading conditions continuing in several markets, we anticipate Q2 to be a challenging quarter. We continue to actively adjust our cost base, both to take account of market conditions and also to improve the Group's operating performance. As a result total headcount reduced by 57 to 5,042 from the year end 2012. This was driven by a reduction in operational support of 64, offset by a small net increas...