Michael Page International PLC reported today its Americas revenue -- which includes the U.S., Canada and Latin America -- fell 25.8% to GBP25.6 million (US$42.3 million) in the first half of 2009 from GBP34.5 million in the first half of last year.

The London-based professional staffing firm reported North American market conditions remained weak during the first half. While the company cut North American staff in the first half, it anticipates no further staff cuts in the region at this time.

Michael Page cut headcount by 25.1% across all segments in the first half to 3,702 in June from 4,943 in December.

Total half-year revenue at Michael Page fell 27.1% to GBP364.7 million (US$602.5 million) from GBP500.0 million in the same period last year.

Gross margin narrowed to 49.0% from 58.5% as the mix of permanent and temporary placements trended toward lower-margin temporary placements, the company reported.

Profit fell 51.9% to GBP28.3 million (US$46.8 million) from GBP58.9 million in the same period last year.

Michael Page International PLC
For the first half of 2009 ended June 30, 2009, compared with the same period in 2008.
Revenue: GBP364.7 million (US$602.5 million), -27.1%
Net income: GBP28.3 million (US$46.8 million), -51.9%