UPDATE 1-Recruiter Page says all regions show growth in Q1

martes 15 de abril de 2014 05:10 GYT
 

(Adds CEO comments, analyst reaction, shares)

By Paul Sandle

LONDON, April 15 (Reuters) - British recruiter Michael Page International said its businesses in France and Germany returned to growth in the first quarter, helping gross profit rise a greater-than-expected 7 percent in constant-currency terms.

The company, which mainly finds candidates to fill permanent positions, reported gross profit of 126.6 million pounds ($212 million) on Tuesday, just ahead of an analyst consensus forecast of 125.4 million pounds.

Chief Executive Steve Ingham said it was a good start to the year, with growth in local currencies in all four of its regions for the first time in eight quarters.

"We were already growing in the UK and Americas, but what is particularly reassuring is our biggest region - Europe, Middle East and Africa - has turned positive," he said in an interview.

Growth in Asia was also outstripping the impact of a downturn in Australia, he said.

Page shares were up 0.6 percent at 461.5 pence at 0853 GMT.

Analysts at HSBC said Page had beaten its estimates in every country in constant currency terms, although there was also a little more cost, partly due to rolling out a new website.   Continuación...