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Page Group North America gross profit rises 21%

July 14, 2015

Michael Page International Plc, a London-based professional staffing firm, reported second-quarter gross profit in its North America unit rose 21% year over year on a constant currency basis. The firm cited a record quarter for the US and Canada and exceptional performance from New York.

The company also noted improvements in its Chicago and Los Angeles offices, where it expects to build a significant market presence. Canada continued to perform well, with good results across all offices.

First-quarter gross profit for Michael Page’s Americas segment — which also includes Latin America — was £20.8 million (US$31.8 million), up 11.5% in constant currency compared with the same period in the previous year. Latin America rose 4% in constant currency and Brazil fell 15%, according to the company.

The company has operations around the world. Total second-quarter gross profit rose 10.6% on a constant currency basis to £145.3 million (US$222.1 million).

“The 10.6% increase in the Group’s gross profit reflects continued year-on-year growth in all four regions with the UK and Americas showing improved growth rates from Q1,” said CEO Steve Ingham. “Our five high potential markets of Germany, Greater China, South East Asia, the US and Latin America are now performing at a record level. EMEA, when adjusted for the effect of closing our business in Russia, grew in line with Q1. The Asia Pacific growth rate slowed in Q2, but this was due to a particularly strong Q2 2014 comparator for Greater China of +37%.”