(By Anthony Miller – Thursday,5th March 2009 8:00am). UK-based international recruitment firm Michael Page is “currently operating around break-even at the operating profit level” in the first two months of the year after recording 14% operating margins in 2008 (see here). The UK is now 38% of revenues and 32% of gross profit, half of which comes from Finance & Accounting recruitment. IT staffing is very small (just three locations). In common with every other recruitment firm we have heard from so far, permanent placements are in the doldrums , with contractor placements trying to hold the fort. Michael Page is a fair size business now, with revenues not far short of £1bn and gross profit (a key measure for recruitment firms) over £0.5bn. It’s a moot point whether they should have taken Adecco’s unsolicited offer last May – I think they should have, but there you go.
Thursday, 5 March 2009
Michael Page profits plunge in 2009
(By Anthony Miller – Thursday,5th March 2009 8:00am). UK-based international recruitment firm Michael Page is “currently operating around break-even at the operating profit level” in the first two months of the year after recording 14% operating margins in 2008 (see here). The UK is now 38% of revenues and 32% of gross profit, half of which comes from Finance & Accounting recruitment. IT staffing is very small (just three locations). In common with every other recruitment firm we have heard from so far, permanent placements are in the doldrums , with contractor placements trying to hold the fort. Michael Page is a fair size business now, with revenues not far short of £1bn and gross profit (a key measure for recruitment firms) over £0.5bn. It’s a moot point whether they should have taken Adecco’s unsolicited offer last May – I think they should have, but there you go.
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