Michael Page Q4 Gross Profit Up 5.3% In Constant Currency

(RTTNews) - Staffing firm Michael Page International Plc. (MPGPF.PK, MPI.L) Tuesday said gross profit for the fourth quarter was 135.6 million pounds, compared to 136.3 million pounds last year.

In constant currency, Michael Page reported a 5.3 percent group gross profit growth for the fourth quarter.

Permanent gross profit was 100.9 million pounds, up 4.9 percent in constant currency. Temporary gross profit grew 6.2 percent to 34.7 million pounds.

On a currency neutral basis, strong performance was seen in EMEA at 10.3 percent, with Germany clocking an increase of 12 percent.

Michael Page experienced tougher trading conditions in Asia Pacific and the U.K.

Steve Ingham, CEO, said, "The Group's Q4 gross profit growth rate of 5.3% in constant currencies was delivered despite trading conditions deteriorating during the fourth quarter, notably in our UK and Asia Pacific regions, as well as in Brazil and the Middle East. However, our businesses in Continental Europe, the US and Latin America, excluding Brazil, continued to grow strongly."

The company expects 2015 operating profit to be broadly in line with current market consensus, which represents growth of around 20 percent in constant currencies.