Pagegroup Plc · LSE:PAGE
Pagegroup — Michael Page International — Q3 2011 Earnings Presentation
17 slides from Pagegroup's earnings presentation, Oct 10, 2011
Slide 1: Third Quarter Interim Management Statement
Third Quarter Interim Management Statement 10 October 2011
Slide 2: Group: Economic uncertainty slows rate of growth to 26.5%
Michael Page International Third Quarter Trading Update | 2 Group “Economic uncertainty slows rate of growth to 26.5%” Growth Rates Group gross profit £m £m Reported Constant Q3 2011 vs Q3 2010 142.7 112.8 +26.5% +21.8% Q3 2011 Q3 2010 Growth Rates Perm/temp gross profit £m £m Reported Constant Perm
Slide 3: Group: Headcount reacts to gross profit trend
Michael Page International Third Quarter Trading Update | 3 Group “Headcount reacts to gross profit trend” Group quarterly Headcount and gross profit 200 6000 4500 Gross Profit (£m) as reported 150 152.4 147.8 142.7 141.3 140.3 128.1 127.3 123.4 Headcount 121.0 119.8 118.7 112.8 111.7 100 3000 105.5
Slide 4: Group: Increasing discipline diversification
Michael Page International Third Quarter Trading Update | 4 Group “Increasing discipline diversification” Q3 Q3 Q3 2011 2011 2010 Growth Rates GROUP gross profit Proportion £m £m Reported Constant Finance & Accounting 46% 66.2 54.2 +22.2% +17.5% Legal, Technology, HR, Secretarial 19% 27.0 20.5 +32.1
Slide 5: Group: Increasing geographic diversification
Michael Page International Third Quarter Trading Update | 5 Asia Group Pacific “Increasing geographic diversification” Q3 Q3 Q3 2011 2011 2010 Growth Rates GROUP gross profit Proportion £m £m Reported Constant EMEA 41% 58.3 44.6 +30.8% +23.2% UK 23% 33.1 33.0 +0.3% +0.3% Asia Pacific 21% 29.2 20.3 +
Slide 6: EMEA: +23% gross profit growth from 18 countries in the region
Michael Page International Third Quarter Trading Update | 6 EMEA “+23% gross profit growth from 18 countries in the region” Growth Rates EMEA gross profit £m £m Reported Constant Q3 2011 vs Q3 2010 58.3 44.6 +30.8% +23.2% Headcount up 64 (+3.0%) to 2,190 (Q2 2011: 2,126) In local currency • France (
Slide 7: EMEA: Seasonal impact compounded by economic uncertainty in Eurozone
Michael Page International Third Quarter Trading Update | 7 EMEA “Seasonal impact compounded by increasing economic uncertainty in Eurozone” EMEA QUARTERLY HEADCOUNT AND GROSS PROFIT 80 2400 70.2 1800 65.2 64.1 Gross Profit (£m) as reported 60 63.7 59.7 58.3 57.5 56.2 52.8 Headcount 48.4 48.5 47.6 4
Slide 8: United Kingdom: Gross profit flat. Gaining share in challenging market
Michael Page International Third Quarter Trading Update | 8 United Kingdom “Gross profit flat. Gaining share in challenging market conditions” Growth UK gross profit £m £m Rates Q3 2011 vs Q3 2010 33.1 33.0 +0.3% Headcount up 71 (+5.3%) to 1,414 (Q2 2011: 1,343) • 3% growth in the private sector (93
Slide 9: United Kingdom: UK now 23% of the Group
Michael Page International Third Quarter Trading Update | 9 United Kingdom “UK now 23% of the Group, as international diversification continues” UK QUARTERLY HEADCOUNT AND GROSS PROFIT 60 2000 49.0 48.5 Gross Profit (£m) as reported 45 1500 47.9 47.1 45.0 45.0 44.1 Headcount 36.1 34.3 33.1 33.0 30 1
Slide 10: Asia Pacific: Significant gross profit growth continues
Michael Page International Third Quarter Trading Update | 10 Asia Pacific “Significant gross profit growth continues” Growth Rates ASIA PACIFIC gross profit £m £m Reported Constant Q3 2011 vs Q3 2010 29.2 20.3 +44.0% +35.2% Headcount up 82 (+9.4%) to 956 (Q2 2011: 874) In local currency • Asia (11%
Slide 11: Asia Pacific: Record gross profit and headcount
Michael Page International Third Quarter Trading Update | 11 Asia Pacific “Record gross profit and headcount” ASIA PACIFIC QUARTERLY HEADCOUNT AND GROSS PROFIT 40 1000 Gross Profit (£m) as reported 30 750 29.2 27.2 Headcount 20 500 21.4 20.7 20.3 19.6 18.4 18.0 16.4 15.4 14.7 14.8 13.2 12.4 12.2 12.
Slide 12: Americas: Now 15% of Group with +47% gross profit growth
Michael Page International Third Quarter Trading Update | 12 Americas “Now 15% of Group with +47% gross profit growth” Growth Rates Constant AMERICAS gross profit £m £m Reported exchange Q3 2011 vs Q3 2010 22.1 14.9 +48.3% +46.9% Headcount up 12 (+1.5%) to 790 (Q2 2011: 778) In local currency • Lati
Slide 13: Americas: 28 offices, c.800 staff
Michael Page International Third Quarter Trading Update | 13 Americas “28 offices, 6 countries, c.800 staff” AMERICAS QUARTERLY HEADCOUNT AND GROSS PROFIT 28 800 Gross Profit (£m) as reported 21 600 22.3 22.1 18.0 Headcount 15.6 14 400 14.9 14.7 14.3 14.1 11.6 11.2 10.7 10.6 10.5 9.9 9.6 9.0 8.6 7 2
Slide 14: Group: Positioned for growth in less developed recruitment markets
Michael Page International Third Quarter Trading Update | 14 “Positioned for growth, with 46% of fee Group earners in less developed recruitment markets growing at over 40%” Reported gross profit growth Q3 2011 Q3 Fee Earners: 3,905 2011 Rest of EMEA* +33% 10% 11% Asia +43% 46% +43% 1,801 10% Latin
Slide 15: Group: Strong financial position
Michael Page International Third Quarter Trading Update | 15 Group “Strong financial position” Financial position • Net cash at 30 September 2011 in the region of £45m • Interim dividend paid on 7th October of 3.25p, £9.8m • 316m shares and 23m share options outstanding at 30 September 2011 • No sha
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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
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