Michael Page is seeing growing signs of stabilisation in an increasing number of its markets, with job numbers “absolutely flat right across the world”, according to chief executive Steve Ingham.

In a conference call to announce an operating profit of around £5m for the third quarter of 2009, Ingham said that in one or two weeks the number of jobs had even picked up slightly.

Both Asia Pacific and the Americas regions had experienced growth during Q3.

The stabilisation in many of Michael Page’s markets was reflected in its gross profit figures, which fell by £1.6m between Q2 and Q3, compared to an £11m reduction between Q1 and Q2.

Ingham said he was also encouraged by an improvement in the quality of jobs. “Jobs were now being translated into gross profit, rather than being cancelled or withdrawn,” he said. Ingham added time-to-fill and fill rates are also improving on the back of growing candidate and client confidence.

Ingham said that because of selective hiring group headcount had increased in September, and he didn’t expect numbers to fall.

Ingham added that in the UK, Michael Page had seen growth in sales, marketing, engineering and supply disciplines, but there remained a question mark over whether this was sustainable.

Stephen Puckett, group finance director, said that following the VAT refund of £37m made to Michael Page in June, HM Revenue & Customs had now told the firm that it wasn’t entitled to the refund and now wants it back.

However, Puckett played down the significance of HMRC’s request saying that even if the company had to repay the money it would have little operational significance, as the company has £138m cash in the bank. Puckett added the company was in “an ongoing debate” with HMRC on the matter.