Business
Q2 and First Half 2008 Tradin
Q2 and First Half 2008 Tradin.
About this update from Pagegroup Plc
[{"type":"text","content":"\n RNS Number : 3994Y Michael Page International PLC 07 July 2008 \n \n\n\n\n7 July 2008\n\nQ2 AND FIRST HALF 2008 TRADING UPDATE\n\n\nFinancial Highlights\n\n\nGroup Q2 gross profit up 26.0% to a record £152.4m\n\n\nEMEA gross profit (46% of Group) up 45.0% to £70.3m\n\n\nUK gross profit (32% of Group) up 1.2% to £48.5m\n\n\nAsia-Pacific gross profit (13% of Group) up 33.2% to £19.6m\n\n\nAmericas gross profit (9% of Group) up 41.6% to £14.1m\n\n\n\nOperating Highlights\n\n\nDiversification strategy driving record quarterly revenue and gross profit\n\n\nAlmost 70% of gross profit now generated outside the UK\n\n\nApproximately a third of fee earners working in new businesses launched since Jan 2005\n\n\n3 new countries and 17 new offices opened in H1 2008\n\n\nGroup headcount increased in H1 by 10% to 5,535 employees\n\n\n\nCommenting on the second quarter trading, Steve Ingham, Chief Executive said:\n\n\"I am delighted with our performance in the second quarter against a backdrop of weakening conditions in some of our markets. These record results reflect the success of our strategy to diversify the Group, both geographically and by discipline. We have achieved growth in all our countries, including those where conditions would be considered tough and despite the significant reduction in activity in the financial services sector.\n\n\"Since the beginning of 2005, we have successfully launched 12 new countries, opened 47 offices and rolled out 103 existing and new disciplines to existing and new countries. As at the end of June 2008, approximately a third of our fee earners work in these newer businesses. This significant increase in the diversity of the business ensures we remain very optimistic about the growth prospects for Michael Page.\"\n\nEnquiries:\n\n\n\n\n\nMichael Page International plc\n\n\n01932 264144\n\n\n\n\nSteve Ingham, Chief Executive\n\n\n\n\n\n\n\nStephen Puckett, Group Finance Director\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nFinancial Dynamics\n\n\n020 7269 7121\n\n\n\n\nRichard Mountain / Sophie Kernon\n\n\n\n\n\n\n\n\nThe company will host a presentation and confere...