Michael Page International has announced gross profits up 33.1 pct today on increasing confidence in the job market and a clear investment strategy.
The recruitment agency said that it had been driven by greater recruitment activity due to growing confidence in the jobs market.
"It is the nature of our business that visibility is short, and the general level of business confidence and economic activity may be threatened by fiscal consolidation in the UK and Europe, however, we are quick to react to changing market conditions."
"We are benefiting from our investment in diversifying the Group internationally, with over 70% of our gross profit now derived from areas outside of the UK and over 40% of our fee earners in the faster developing recruitment markets." said Chief Executive Steve Ingham.
Henry Carver from stockbrokers KBC Peel Hunt commented prior to the results:
"Michael Page's experienced management team, strong cash position and diversification both in terms of sector and geography make it a favourite of ours in the sector. We believe structural international drivers will provide the background for strong growth in the medium to long term and we reiterate our Buy recommendation,"
Shares in the FTSE 250 company rose 7.2 pence on the news.