Tuesday, 7 April 2009

No let up in ‘challenging’ recruitment market

(By Anthony Miller – Tuesday, 7th April 2009 9:00am). Trading updates from Spring Group (see here) and Michael Page (see here) confirm that the first quarter remained ‘challenging’ for the recruitment sector. While Spring gave no specific numbers in their AGM statement, CEO Peter Searle reckoned the market was performing “broadly in line with what we anticipated in Q4”. Michael Page saw 1Q UK gross profit dive 39%, “with only businesses servicing the public sector and ... Property & Construction generating year-on-year growth”. Its UK Legal, Technology, HR and Secretarial division saw GP fall 42%. I’m meeting up with Peter Searle later this month and TechMarketView subscription clients will be able to read all about it in a forthcoming AnalystViews note.

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