Michael Page International PLC
22 May 2002
MICHAEL PAGE INTERNATIONAL PLC
ANNUAL GENERAL MEETING STATEMENT - 22 May 2002
Lord Wakeham, Chairman, Michael Page International PLC, will make the following
announcement at today's Annual General Meeting:
"As indicated at the time of the preliminary announcement of our 2001 results,
we said that we expected 2002 to be a difficult and challenging year and that
our revenue in the first quarter of 2002 would be no better than the £49.9m
achieved in the fourth quarter of 2001.
"Our first quarter 2002 revenue of £49.5m is in line with market expectations.
"The first quarter performance represents a quarterly sequential improvement in
the revenue from United Kingdom and Asia Pacific regions with The Americas at a
similar level. In Continental Europe we experienced a sequential decline in
revenue due to further weakening in the permanent recruitment markets in France,
Holland and Germany.
"While continuing to manage the Group on the basis that we expect market
conditions to remain challenging in the short term and maintaining our normal
tight control over costs, we will continue to make investments for the longer
term benefit of the Group and its shareholders.
"I am pleased to announce that the Board has today appointed Adrian Montague as
Chairman of Michael Page. I shall be standing aside as Chairman with immediate
effect and become Deputy Chairman of the Company."
Enquiries:
Terry Benson Chief Executive Michael Page International PLC 020 7269 2205
Stephen Puckett Group Finance Director Michael Page International PLC 020 7269 2205
David Yates/Richard Mountain Financial Dynamics 020 7831 3113
This information is provided by RNS
The company news service from the London Stock Exchange
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