Business
Q2 AND FIRST HALF 2011 TRADING UPDATE
Q2 AND FIRST HALF 2011 TRADING UPDATE.
About this update from Pagegroup Plc
[{"type":"text","content":"\n \nRNS Number : 0979K Michael Page International PLC 11 July 2011 \n \n\n \n \n11 July 2011\n \n\nQ2 AND FIRST HALF 2011 TRADING UPDATE\n \n \nFinancial Summary\n· Group Q2 gross profit of £147.8m up 32.4% (29.6%*) on the £111.7m in Q2 2010\n· Group H1 gross profit of £275.1m up 31.3% (29.5%*) on the £209.6m in H1 2010\n· EMEA (43% of Group) Q2 gross profit of £64.1m up 37.2% (31.8%*) against the £46.7m in Q2 2010\n· UK (23% of Group) Q2 gross profit of £34.3m up 6.4% against £32.2m in Q2 2010\n· Asia Pacific (19% of Group) Q2 gross profit of £27.2m up 50.8% (45.8%*) against the £18.0m in Q2 2010\n· Americas (15% of Group) Q2 gross profit of £22.2m up 51.3% (53.7%*) against the £14.7m in Q2 2010\n· Q2 Permanent gross profit (80% of Group) of £118.6m up 34.8% (32.1%*) against the £88.0m in Q2 2010\n· Q2 Temporary gross profit (20% of Group) of £29.2m up 23.5% (20.3%*) against the £23.7m in Q2 2010\n· Group headcount at 30 June 2011 of 5,121 up 269 (5.5%) on 31 March 2011\n· 5.7m shares (1.8% of share capital) purchased and cancelled during the second quarter at a cost of £30.3m\n· £18.8m final dividend for 2010 (6.12p per share) paid in June 2011\n· Net cash at 30 June 2011 in the region of £25m (£73.9m at 31 March 2011)\n \n* Denotes where overseas results denominated in foreign currencies have been translated at constant rates of exchange for constant currency illustrative purposes.\n \nCommenting on the second quarter trading, Steve Ingham, Chief Executive said:\n \n\"We continued to perform well in the second quarter of 2011, with the year-on-year increase in gross profit rising to 32%. The growth continues to be driven largely by permanent placements, where gross profit was up 35%, and we also recorded an improvement in gross profit from temporary placements, which are now growing at...