International recruiter Michael Page’s UK profits fell, according to its half-year results for the period ended 30 June 2009.

Revenue fell by 27% to £364.7m from £500m, while gross profits slumped to £178.8m, down from £292.7m. Operating profit was £32.2m, from £84.9m in 2008.

Steve Ingham (pictured), chief executive of Michael Page, says: “While market conditions generally continued to weaken during the first half, the rate of decline in the UK, our largest country, and the Asia Pacific region has slowed, and gross profit in these regions in the second quarter, was at a level similar to that of the first quarter.

“We anticipate a challenging third quarter as we enter into the seasonally quieter summer period, both in Continental Europe, which was later into the downturn, and in the UK.”