Michael Page International PLC
06 July 2004
6 July 2004
2004 FIRST HALF TRADING UPDATE
Michael Page International plc, the specialist recruitment consultancy, reports
second quarter revenues (gross profit) of £52.3m resulting in first half year
revenues of £100.4m. The second quarter revenue represents a like for like
increase of 16.3% and a sequential increase of 8.6%. Revenue in the first half
is 14.4% higher than the £87.8m recorded in the first half of 2003.
UK first half revenues were £53.1m, up 21.5% on the first half of 2003.
In Continental Europe, where market conditions remained challenging, first half
revenues were £29.6m, 3.2% below the first half of 2003.
In Asia Pacific, first half revenues were £14.3m, 24.3% up on the first half of
2003.
In the Americas, first half revenues were £3.3m, 73.6% up on the first half of
2003.
Commenting on the first half results, Chief Executive Terry Benson said:
"We are extremely pleased with the continuing strong increase in our revenues.
While trading conditions in Continental Europe remain tough there are some early
signs of increased activity. We are encouraged with our progress in The
Americas and during the first half opened new offices in Boston and Chicago."
During the second quarter Michael Page International plc reinstated its share
buy back programme, purchasing 9m shares at an average price of 169p.
Michael Page International plc will announce its interim results for the six
months ended 30 June 2004 on 16 August 2004.
Enquiries:
Michael Page International plc
Terry Benson Chief Executive 0207 269 2205
Stephen Puckett Group Finance Director 0207 269 2205
Financial Dynamics
Richard Mountain 020 7269 7291
This information is provided by RNS
The company news service from the London Stock Exchange
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