Michael Page profits improve ‘significantly’
Professional recruiter Michael Page International’s profitability has improved “significantly”, according to its full-year results for the year ended 31 December 2010.
Professional recruiter Michael Page International’s profitability has improved “significantly”, according to its full-year results for the year ended 31 December 2010.
The group’s results show:
| 2010 | 2009 | Change | Change CER* | |
| Revenue | £832.3m | £716.7m | +16.1% | +14.8% |
| Gross profit | £442.2m | £351.7m | +25.7% | +23.8% |
| Operating profit before NRI † | £71.5m | £20.2m | +254.0% | +239.0% |
| Profit before tax before NRI | £72.2m | £21.1m | +242.7% | |
| Operating profit | £88.7m | £20.2m | +338.8% | |
| Profit before tax | £100.7m | £21.1m | +377.8% |
*Constant exchange rates (CER) † Non-recurring items
Steve Ingham, chief executive of Michael Page, says: “The group was well positioned to benefit from the economic recovery during 2010 and our profitability has improved significantly. We have maintained a strong balance sheet and, while increasing the returns to shareholders, we have also continued to take a long-term approach by making significant investments in the future of the business, opening in Chile, India, Malaysia and Qatar.
“We are well positioned to continue our growth in 2011 and to pursue opportunities to invest in the development of our business over the long term.”
