Michael Page has reported first quarter gross profits of £105.4m, an increase of 33.2% compared with the £79.2m recorded in the first quarter of 2006. The recruitment consultant said a continuing lack of good quality candidates and high levels of client demand are the main drivers of its success.
Chief executive Steve Ingham, said: 'In all countries, without exception, we are currently experiencing strong levels of client activity against a backdrop of an increasingly common theme of a shortage of good quality candidates. Through the combination of our website, our biggest source of candidates, an internationally respected brand and a global database of candidates, we believe we can leverage our competitive advantage. As a result the outlook for Michael Page continues to be very encouraging.'
In the UK, first quarter gross profits were £44.1m, 20.4% up on the first quarter of 2006 (£36.6m), bolstered by the opening of an office in Leicester. All specialist disciplines continued to demonstrate strong growth rates.
Ingham added: 'We have continued our strategy of organic growth ... by opening new offices and rolling out disciplines. As envisaged we increased our headcount as many teams around the world reached capacity and reacted by adding new fee earners. At the end of March, with EMEA well ahead of plan, we have approximately 4,100 staff.'
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