Michael Page Reports Q4 Gross Profit Growth Of 12.9% In Constant Currency

(RTTNews) - Michael Page International plc (MPGPF.PK, MPI.L) reported fourth quarter gross profit of 136.2 million pounds, up 8.9% in reported rates and 12.9% in constant currencies, with double digit growth in all its four regions. For 2014, Group gross profit was 532.7 million pounds, with the impact of foreign exchange on these full year results being material at 33 million pounds for gross profit and 6 million pounds for operating profit.

Net cash at 31 December 2014 was in the region of 89 million pounds, the Group said. Michael Page International will issue its full year results on 11 March 2015 and its first quarter trading update 2015 on 14 April 2015

Steve Ingham, CEO, said: "We are pleased with the 10% growth in gross profit in constant currencies for the year, given the macro-economic challenges in a number of our larger markets and the unpredictable nature of the current cycle. We expect operating profit before a small positive exceptional to be a minimum of current market consensus, implying growth of over 20% in constant currencies."