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Michael Page revenue edges higher

August 13 2013

Michael Page International plc, a London-based professional staffing firm, reported revenue rose  0.1 percent in the first half of the year to  £503.2 million (US$765.4 million) compared to revenue of £502.6 million for the first half of 2012. However, the company reported revenue fell 0.9 percent on a constant exchange rate basis.

Gross margin fell to 52.0 percent from 54.4 percent in the secnd half of last year.

“Our focus remains fixed on our long-term growth and profit objectives,” said CEO Steve Ingham. “We will continue to invest in our key, high-potential markets, to manage our fee earner headcount actively, reflecting market conditions and to seek out efficiencies to drive down the costs of operational support.”

Revenue in its Michael Page’s Americas operations increased 11.2 percent to £56.2 million (US$85.5 million) in the first half of the year from £50.6 million in the first half of 2012. The increase was 12.3 percent in constant currency.

First-quarter gross profit for Michael Page’s Americas segment — which includes North America and Latin America — was £39.1million (US$59.4 million), up 5.9 percent in constant currency compared with the same period in the previous year. Improved market conditions in North America and last year’s changes to the top level management have driven improvements in both the conversion rate and operating profit, according to the company.

Michael Page has operations throughout the world and ranked No. 23 on Staffing Industry Analysts’ 2012 list of largest global staffing firms.


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