PageGroup PLC · LSE:PAGE
PageGroup — Michael Page International — Q2 2012 Earnings Presentation
17 slides from PageGroup's earnings presentation, Jul 9, 2012
Slide 1: Second Quarter Trading Update
Second First Quarter Quarter Trading Trading Update Update 9 July | 11 April2012 2011
Slide 2: Group: Continued growth in gross profit Q1 to Q2
Michael Page International Second Quarter Trading Update | 2 Group “Continued growth in gross profit Q1 to Q2” Growth Rates Group gross profit £m £m Reported Constant Q2 2012 vs Q1 2012 138.0 135.9 +1.6% +3.7% Q2 2012 vs Q2 2011 138.0 147.8 -6.6% -2.4% H1 2012 vs H1 2011 273.9 275.1 -0.4% +2.2% • Co
Slide 3: Group: Results impacted by weaker overseas currencies
Michael Page International Second Quarter Trading Update | 3 Group “Results impacted by weaker overseas currencies” Q2 2012 Q2 2011 Growth Rates Perm/temp gross profit £m £m Reported Constant Permanent 109.5 118.5 -7.6% -3.4% Temporary 28.5 29.3 -2.7% +1.6% Ratio (Perm:Temp) 79:21 80:20 H1 2012 H1 2
Slide 4: Group: Small sequential step up in gross profit
Michael Page International Second Quarter Trading Update | 4 Group “Small sequential step up in gross profit” Group quarterly Headcount and gross profit 200 6000 4500 Gross Profit (£m) as reported 150 152.4 147.8 142.6 141.3 140.3 136.1 138.0 135.9 128.2 127.3 123.4 Headcount 121.0 119.9 118.7 112.8
Slide 5: Group: Investing in continuing discipline diversification
Michael Page International Second Quarter Trading Update | 5 “Investing in continuing discipline Group diversification broadening the platform for future growth” H1 H1 H1 2012 2012 2011 Growth Rates GROUP gross profit Proportion £m £m Reported Constant Finance & Accounting 42% 115.6 123.8 -6.6% -4.3
Slide 6: Group: Investing in increasing geographic diversification
Michael Page International Second Quarter Trading Update | 6 Group “Investing in increasing geographic diversification” H1 H1 H1 2012 2012 2011 Growth Rates GROUP gross profit Proportion £m £m Reported Constant EMEA 43% 118.0 120.2 -1.9% +3.4% UK 22% 61.7 66.0 -6.6% -6.6% Asia Pacific 21% 56.8 48.6
Slide 7: EMEA: Market confidence weakened during quarter
Michael Page International Second Quarter Trading Update | 7 EMEA “Market confidence weakened during quarter” Growth Rates EMEA gross profit £m £m Reported Constant Q2 2012 vs Q1 2012 57.7 60.3 -4.4% -2.0% Q2 2012 vs Q2 2011 57.7 64.1 -10.1% -2.5% H1 2012 vs H1 2011 118.0 120.2 -1.9% +3.4% Headcount
Slide 8: EMEA: Headcount reacting to market conditions
Michael Page International Second Quarter Trading Update | 8 EMEA “Headcount reacting to market conditions” EMEA QUARTERLY HEADCOUNT AND GROSS PROFIT 80 2400 Gross Profit (£m) as reported 70.2 64.1 65.2 63.7 61.0 60.3 59.7 58.3 57.7 56.2 Headcount 52.8 47.6 46.7 40 1200 44.6 44.6 42.2 38.2 35.7 0 0
Slide 9: United Kingdom: Sequential growth against a challenging economic background
Michael Page International Second Quarter Trading Update | 9 United Kingdom “Sequential growth against a challenging economic background” Growth UK gross profit £m £m Rates Q2 2012 vs Q1 2012 31.1 30.6 +1.7% Q2 2012 vs Q2 2011 31.1 34.3 -9.2% H1 2012 vs H1 2011 61.7 66.0 -6.6% Headcount down 16 (-1.
Slide 10: United Kingdom: Headcount adjusts to suit flat conditions
Michael Page International Second Quarter Trading Update | 10 United Kingdom “Headcount adjusts to suit flat conditions – focused on profitability” UK QUARTERLY HEADCOUNT AND GROSS PROFIT 50 1600 Gross Profit (£m) as reported 48.5 47.1 45.0 Headcount 36.1 34.3 33.1 33.0 32.3 31.7 30.9 31.1 30.7 30.6
Slide 11: Asia Pacific: Strong growth, now 22% of Group
Michael Page International Second Quarter Trading Update | 11 Asia Pacific “Strong growth, now 22% of Group” Growth Rates ASIA PACIFIC gross profit £m £m Reported Constant Q2 2012 vs Q1 2012 30.5 26.3 +16.2% +18.6% Q2 2012 vs Q2 2011 30.5 27.2 +12.5% +11.2% H1 2012 vs H1 2011 56.8 48.6 +17.1% +14.1%
Slide 12: Asia Pacific: Record gross profit and headcount
Michael Page International Second Quarter Trading Update | 12 Asia Pacific “Record gross profit and headcount” ASIA PACIFIC QUARTERLY HEADCOUNT AND GROSS PROFIT 30 900 30.5 29.2 27.2 26.3 25.6 Gross Profit (£m) as reported 25.6 20 600 21.4 20.7 20.3 Headcount 19.6 18.0 18.4 16.4 10 13.2 300 12.2 12.
Slide 13: Americas: Sequential increase in gross profit in constant currency
Michael Page International Second Quarter Trading Update | 13 Americas “Sequential increase in gross profit in constant currency” Growth Rates Constant AMERICAS gross profit £m £m Reported exchange Q2 2012 vs Q1 2012 18.7 18.7 -0.1% +4.9% Q2 2012 vs Q2 2011 18.7 22.3 -16.0% -8.3% H1 2012 vs H1 2011
Slide 14: Americas: Gross profit impacted by adverse exchange rates
Michael Page International Second Quarter Trading Update | 14 Americas “Gross profit impacted by adverse exchange rates” AMERICAS QUARTERLY HEADCOUNT AND GROSS PROFIT 30 900 Gross Profit (£m) as reported 22.3 20 600 22.0 Headcount 18.7 18.7 18.6 18.0 15.6 14.9 14.7 14.3 14.1 10 300 11.6 11.2 10.5 9.
Slide 15: Group: Strong financial position
Michael Page International Second Quarter Trading Update | 15 Group “Strong financial position” • Strong net cash at 30 June 2012 in the region of £32m • 2.6m of shares repurchased into Trust in H1 at a cost of £9.4m (363.5p per share) • 2011 final dividend of 6.75p (+10.3%) per share paid on 6 June
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Slide 17: Cautionary Statement
Cautionary Statement The information contained in this presentation is not audited, is for personal use and informational purposes only and is not intended for distribution to, or use by, any person or entity in any jurisdiction in any country where such distribution or use would be contrary to law
Michael Page International — Q2 2012 Earnings Presentation on 6ix