Michael Page Sees Annual Operating Profit Of About £68 Mln - Quick Facts

(RTTNews) - Recruitment firm Michael Page International Plc (MPGPF.PK, MPI.L), after the impact of adverse movements in exchange rates and increases in social charges on share plans as a result of the share price increase, expects full-year operating profit to be around 68 million pounds.

The company's Chief Executive stated, "Overall PageGroup delivered another robust performance in the third quarter, against a backdrop of challenging, but gradually improving market conditions across the majority of our regions. Gross profit was £127.0m in our traditionally weaker third quarter, up 0.4% year-on-year in reported currency. In all our regions and key disciplines, in the third quarter we saw increasing year-on-year quarterly growth rates in constant currency.

During the third quarter, PageGroup delivered gross profit of 127.0 million pounds, up 0.4% on last year's 126.5 million pounds. Headcount increased by 116 in the quarter to 5,071 at the end of September 2013.

In a separate press release, PageGroup announced the appointment of Kelvin Stagg as Acting Chief Financial Officer following Andrew Bracey tendering his resignation on October 11.

Kelvin Stagg, who has been with PageGroup since July 2006, most recently served as Group Finance Controller and Company Secretary. Earlier to joining PageGroup, Kelvin spent six years at Allied Domecq and three years at Unilever in various finance functions.