Michael Page racks up £93m Q4 profits

Michael Page
 has reported a fourth quarter gross profit of £93.0m,and also
estimated full-year profits of £348.7m, an increase of 30.3% over the £267.6m
reported in 2005.

Gross profits for the UK in the last three months of 2006 were £38.9m, an
increase of 18.8% over the £32.7m recorded in the fourth quarter of 2005. Full
year gross profit have been estimated at £155.7m (2005: £129.5m), an increase of

The FTSE 250 corporate put
its success down to investment in its long-term prospects which
include  expansion of its existing offices and disciplines in established
markets. Michael Page also opened offices in five new countries, raising the
group’s headcount to 3,758, or 28%, higher than at the end of 2005.

Commenting on the fourth quarter performance, chief executive Steve Ingham
said: ‘2006 has been a very successful year for the Group with all regions

contributing to our record results and a particularly strong performance from

Europe. I am pleased with the successful acceleration of our investment spend in

2006 in order to capture a number of growth opportunities, all the time
following the proven Michael Page model of expanding organically with
experienced senior managers. With this investment, we expect to continue to

deliver good growth in 2007 and beyond.’ 

Michael Page is set to release its preliminary results for 2006 on 28

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