Q4 Trading Update

Michael Page International PLC 08 January 2008 8 January 2008 2007 FOURTH QUARTER TRADING AND FULL YEAR GROSS PROFIT UPDATE Michael Page International plc, the specialist recruitment consultancy, reports a record quarterly Group gross profit of £128.2m for the fourth quarter, an increase of 37.6% (33.9%*) over the £93.1m recorded in the fourth quarter of 2006. Full year gross profit was a record £478.1m, an increase of 37.1% (37.6%*) over the £348.8m reported in 2006. Group headcount at 31 December was 5,052. In our largest region, Europe, Middle East and Africa (EMEA), fourth quarter gross profit was £57.7m, an increase of 55.9% (48.7%*) over the £37.0m recorded in the fourth quarter of 2006. Full year gross profit was £196.5m, an increase of 55.2% (55.0%*) over the £126.6m reported in 2006. In France, our largest business in the region representing 33% of EMEA gross profits, we again grew strongly with a fourth quarter growth rate of 35%*. The remaining EMEA countries grew at a combined rate of 57%*. Headcount at 31 December was 2,078. In the UK, fourth quarter gross profit was £45.0m, an increase of 15.6% over the £38.9m recorded in the fourth quarter of 2006. Full year gross profit was £186.0m, an increase of 19.4% over the £155.8m reported in 2006. During the fourth quarter, save for some weakness in specific banking sectors, the UK business continued to experience good levels of activity across all other disciplines and industry sectors. Headcount at 31 December was 1,799. In Asia Pacific, fourth quarter gross profit was £14.8m, an increase of 30.6% (26.1%*) over the £11.3m recorded in the fourth quarter of 2006. Full year gross profit was £57.2m, an increase of 27.3% (29.6%*) over the £45.0m reported in 2006. In Australia, fourth quarter gross profit again grew at 26%*. In Asia, our businesses also grew in the fourth quarter at 26%*, despite some weakness in specific banking sectors. Headcount at 31 December was 632. In the Americas, fourth quarter gross profit was £10.7m, an increase of 81.6% (77.5%*) over the £5.9m recorded in the fourth quarter of 2006. Full year gross profit was £38.4m, an increase of 78.9% (84.4%*) over the £21.5m reported in 2006. In December we opened in Buenos Aires, Argentina our third country in Latin America. Headcount at 31 December was 543. During the fourth quarter, the Group repurchased and held in Trust a further 3.5m shares at a cost of £14.9m, at an average price of 423p. In the year, the Group has repurchased and cancelled or held in Trust a total of 15.1m (4.5%) shares at a cost of £74.4m, at an average price of 494p. Commenting on the fourth quarter trading, Steve Ingham, Chief Executive said: "2007 has been a record year for the Group, with gross profit increasing by 37%, compared to 30% in 2006. These results are testament to our organic growth strategy of increasing the diversification of our business both geographically and by discipline. 61% of our 2007 gross profit has been generated outside the UK, with EMEA now our largest region, representing 41% of Group gross profit. "We have further increased our headcount by 275 (5.8%) during the fourth quarter, with the Group, for the first time, exceeding 5,000 employees who operate from 149 offices in 25 countries. This compares to 2,666 employees operating from 91 offices in 14 countries at the end of 2000. "We continue to experience strong demand for talent around the globe and while mindful of the uncertainties surrounding the current global economic outlook, with numerous opportunities to grow our existing and new businesses, we are confident in the prospects for Michael Page." * Denotes where overseas results denominated in foreign currencies have been translated at constant rates of exchange for constant currency illustrative purposes. The company will host a presentation and conference call for analysts and investors at 9.00am today. The presentation can be viewed by following the link: http://w.on24.com/r.htm?e=101095&s=1&k=03A817B77EFA8C326A89668A72272586 The dial-in details for the conference call are as follows: Dial-In: +44 (0)20 7162 0125 Conference ID: 779600 Please quote 'Michael Page Quarter 4 Trading Update' to gain access to the call. The presentation and recording of the call will be available on the company's website later today at http://investors.michaelpage.co.uk/ir/mpi/ir.jsp?page= presentations The Group will announce its full year results on 4 March 2008 and its first quarter trading update on 7 April 2008. Enquiries: Michael Page International plc Steve Ingham Chief Executive 01932 264144 Stephen Puckett Finance Director 01932 264144 Financial Dynamics Richard Mountain Managing Director 020 7269 7121 This information is provided by RNS The company news service from the London Stock Exchange

Companies

Pagegroup (PAGE)
UK 100

Latest directors dealings