Michael Page International PLC
06 July 2005
6 July 2005
2005 Q2 AND FIRST HALF TRADING UPDATE
Michael Page International plc, the specialist recruitment consultancy, reports
second quarter revenues (gross profit) of £68.2m, an increase of 30.3% over the
£52.3m recorded in the second quarter of 2004 and a sequential increase of 13.8%
over the £59.8m recorded in the first quarter of 2005. Revenues in the first
half of 2005 are therefore £128.1m, an increase of 27.6% over the £100.4m
recorded in the first half of 2004.
In the U.K., second quarter revenues were up 19.6% on the second quarter of
2004. U.K. first half revenues were £62.9m, up 18.4% on the first half of 2004.
In Continental Europe, second quarter revenues were up 42.5% on the second
quarter of 2004. First half revenues were £40.7m, up 37.2% on the first half of
2004.
In Asia Pacific, second quarter revenues were up 35.3% on the second quarter of
2004. First half revenues were £18.8m, up 31.3% on the first half of 2004.
In the Americas, second quarter revenues were up 69.1% on the second quarter of
2004. First half revenues were £5.7m, up 71.7% on the first half of 2004.
During the second quarter, the Group repurchased a further 10.95m shares at an
average price of 193.1p. In the first half the Group repurchased 12.8m shares at
an average price of 193.3p.
The Group will announce its interim results on 15 August 2005. The interim
results will be prepared in accordance with International Accounting Standards
(IAS) and will include reconciliations to previously reported results. The
application of IAS has no material impact on the reported results of the Group.
Commenting on the second quarter result, Chief Executive, Terry Benson said:
"We are pleased with the growth recorded by all four geographic regions in the
first half and assuming no significant change in market conditions, we
anticipate that full year profits will be materially above current consensus
market expectations."
Enquiries:
Michael Page International plc
Terry Benson Chief Executive 01932 264 000
Stephen Puckett Group Finance Director 01932 264 144
Financial Dynamics
David Yates/Richard Mountain 0207 269 7291
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