Michael Page International PLC reported a 17.0% increase in full-year 2008 revenue to GBP972.8 million (US$1.41 billion). Chief Executive Steve Ingham described 2008 as a year with two distinct halves, "a strong first half being followed by a progressively weaker second half as the economic environment deteriorated."

On a constant currency basis, the London-based professional staffing firm reported 2008 revenue rose 7.9%.

Michael Page's Americas revenue — which includes the U.S., Canada and Latin America — rose 32.3% to GBP69.3 million (US$100.3 million). It increased 19.2% on a constant currency basis.

Full-year gross margin narrowed to 56.8% from 57.5%. The company said temporary staffing gross margin for 2008 was 24.2%.

2008 net income fell 4.3% to GBP97.3 million (US$140.9 million).

Michael Page reported market conditions have deteriorated in the first two months of the year with gross profit down 30%. The company said it lowered headcount by 452 in January and February, leaving it with 4,491.

Michael Page International PLC
For the full year ended Dec. 31, 2008, compared with the previous year.
Revenue: GBP972.8 million (US$1.41 billion) +17.0%
Net income: GBP97.3 million (US$140.9 million), -4.3%