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(Sharecast News) - Recruiter Michael Page reaffirmed its full-year guidance on Thursday as it posted a rise in first-half pre-tax profit amid continued growth in the Americas and Asia Pacific.
In the six months to the end of June, pre-tax profit surged to 6.5m from 0.2m in the same period a year earlier, while revenue nudged up 0.1% to 799.5m. Operating profit rose to 9.7m from 2.1m.
The company, formerly PageGroup, highlighted ongoing challenging market conditions in the core business. However, it pointed to continued good growth in Asia Pacific and the Americas, as well as a return to growth in Southern Europe in the second quarter.
Michael Page said it continues to expects full-year operating profit in line with company-compiled consensus of around 28m.
Chief executive Nicholas Kirk said: "The group delivered a resilient performance in H1 despite ongoing challenging market conditions.
"Whilst we have seen improvement and signs of a normalisation in trading in a number of our markets, there remains a high degree of uncertainty in the outlook for the rest of the year. We have a highly diversified and adaptable business model, a strong balance sheet and a cost base that is under continuous review."
At 1028 BST, the shares were down 2.6% at 182.90p.
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