Michael Page International PLC
06 January 2006
6 January 2006
2005 FOURTH QUARTER TRADING AND
FULL YEAR REVENUE UPDATE
Michael Page International plc, the specialist recruitment consultancy, reports
fourth quarter revenue (gross profit) of £70.2m, an increase of 23.8% over the
£56.7m recorded in the fourth quarter of 2004. Full year revenue is estimated
at £267.5m, an increase of 27.0% over the £210.6m recorded in 2004.
UK fourth quarter revenues were £32.7m, 15.9% up on the fourth quarter of 2004,
with good growth across all disciplines. Full year revenue is estimated at
£129.5m (2004: £110.0m), an increase of 17.8%.
Continental Europe fourth quarter revenues were £24.7m, 40.8% up on the fourth
quarter of 2004, with France, the region's largest business, improving growth
rates quarter on quarter throughout the year and achieving over 20% growth in
the fourth quarter. Full year revenue is estimated at £86.1m (2004: £61.5m), an
increase of 40.0%.
Asia Pacific fourth quarter revenues were £9.2m, 5.6% up on the fourth quarter
of 2004. Revenue from the Australian business was lower than expected and
marginally below the fourth quarter of 2004 due primarily to internal issues
surrounding the implementation of a new IT system. These implementations have
gone well in the remainder of the Asia Pacific region and these businesses all
performed well in the quarter. Full year revenue is estimated at £39.0m (2004:
£31.5m), an increase of 23.7%.
The Americas fourth quarter revenues were £3.6m, 63.8% up on the fourth quarter
of 2004. We continued our development in the region, opening an office in
Philadelphia during December. Full year revenue is estimated at £12.9m (2004:
£7.6m), an increase of 69.2%.
Share buy backs
During the fourth quarter, the Group repurchased a further 4m shares at an
average price of 230.8p. During the year the Group repurchased a total of 16.8m
shares at an average price of 202.2p.
Michael Page International plc will release its preliminary results for the year
ended 31st December 2005 on 1st March 2006.
Commenting on the fourth quarter performance, Chief Executive Terry Benson said:
"In the fourth quarter we achieved strong growth in Group revenue exceeding £70m
in one quarter for the first time in the Group's history. I am delighted with
our performance in the UK and Continental Europe and in particular in France
where growth rates improved quarter on quarter throughout the year and increased
in the fourth quarter by over 20%.
"2005 has been a very successful year for the Group and we are well positioned
for further growth in 2006 and beyond."
Enquiries:
Michael Page International plc
Terry Benson Chief Executive 01932 264144
Stephen Puckett Group Finance Director 01932 264144
Financial Dynamics
Richard Mountain/David Yates 020 7269 7291
This information is provided by RNS
The company news service from the London Stock Exchange
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