Michael Page – On The Rampage

FTSE 250 recruitment agency, Michael Page today announced gross profits increased 6% in the firm’s second quarter to an impressive £145.3m.

It would have been even better too, if it hadn’t been for a weak Euro and other currencies, which meant it missed out on a further £6m (!). The recruitment goliath operates globally and stated that Germany, Greater China, South East Asia, the US and Latin America are all performing at record levels.

Back in Blighty, they also saw profits increase by 12.8% to £39.2m.

Michael Page’s financial results can often be used as a barometer by which not only the recruitment industry, but the overall economy can be measured.

A rise in permanent job vacancies and the legal, technology, HR, secretarial and healthcare sectors all showing high growth, is certainly a good indication that the UK economy is doing well.

Good news indeed.

But despite this, we continue to see businesses compromise on the quality of the candidates they select – due in part to the UK’s skills shortage.