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Michael Page says tough conditions have spread

December 04 2008

Market conditions have become more challenging since an earlier report in October, Michael Page International PLC, reported today. The London-based professional staffing firm said it now expects full-year profits before tax to be at the bottom range of analysts' forecasts at GBP136.0 million (US$201.6 million).

"This loss of confidence is now more marked and has spread rapidly in November to virtually every industry sector and geographic market in which the group operates," the company reported. "Consequently, the cautionary behavior of clients and candidates has increased further, significantly reducing activity levels and shortening the Group's earnings visibility."

Michael Page will announce its 2008 results on Jan. 8.

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