Michael Page sees negative outlook
Accountancy recruitment specialist Michael Page International has warned its short-term outlook was difficult as the downturn bites and the reputation of the profession continues to suffer under Enron's shadow.
As he announced the company’s results yesterday, chief executive Terry Benson said: ‘The short-term outlook remains difficult.’
The company admitted that as anticipated, the current year started slowly and the current level of activity was below the first quarter of 2001.
It said: ‘Our current expectation is that revenue in the first quarter will be no better than the £49.9m achieved in the fourth quarter of 2001.’
Benson added the company’s recovery during the rest of the year depends on the volatility of the specialist recruitment market and its exposure to international economic conditions.