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Michael Page Int'l in line

12 January 2016 07:21

Michael Page International said its FY operating profit is expected to be broadly in line with current market consensus, representing growth of about 20% in constant currency terms. The consensus was GBP91.0m.

"With macro-economic challenges in a number of our larger markets, the unpredictable nature of the current cycle and our limited visibility, we will continue to focus on driving profitable growth, as we have throughout 2015," the company said in a statement.

FY RESULTS:

· Group gross profit of £555.9m, constant currency growth +9.2%, a record year for the Group

· FX lowered reported gross profit by c. £26m and operating profit by c. £4m

· Increase of 206 fee earners (+4.8%), ratio to operational support staff at record 77:23

Q4 HIGHLIGHTS:

· 5.3% Group gross profit growth

· Strong performance from EMEA +10.3%; with Germany +12%

· Tougher trading conditions in Asia Pacific -1.3% and the UK +2.1%

· North America +23%, with US +27%

· New operating system rolled out to 85% of fee earners; will complete in 2016

· Net cash of c. £93m

Story provided by StockMarketWire.com

Related Company: MPI

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