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MICHAEL PAGE INTERNATIONAL PLC

MICHAEL PAGE INTERNATIONAL PLC

Full Year Results for the Year Ended 31 December 2011

Michael Page International plc ("Michael Page"), the specialist professional recruitment company, announces its full year results for the year ended 31 December 2011.

Financial summary

2011

2010

Change

Change CER*

Revenue

&pound1,019.1m

&pound832.3m

22.4%

20.3%

Gross profit

&pound553.8m

&pound442.2m

25.2%

23.1%

Operating profit before NRI &dagger

&pound86.0m

&pound71.5m

20.3%

17.1%

Profit before tax before NRI &dagger

&pound86.1m

&pound72.2m

19.3%

Basic earnings per share before NRI &dagger

18.7p

15.1p

23.8%

Diluted earnings per share before NRI &dagger

18.2p

14.7p

23.8%

Operating profit

&pound86.0m

&pound88.7m

-3.0%

Profit before tax

&pound86.1m

&pound100.7m

-14.4%

Basic earnings per share

18.7p

21.6p

-13.4%

Diluted earnings per share

18.2p

21.1p

-13.7%

Total dividend per share

10.0p

9.0p

11.1%

*Constant Exchange Rates &dagger Non-recurring Items (see note 4)

2011 operating and financial highlights

&middot Strong results despite challenging macro economic backdrop

&middot 25% (23%*) growth in gross profit to a record level of &pound553.8m

&middot Benefiting from geographic diversification with growth in all regions

&middot Continued organic investment with 17 new offices and 3 new country openings in 2011

&middot Gross profit from permanent placements growing at 28% (25%*)

&middot Share repurchases of &pound30.3m during 2011

&middot Strong balance sheet with net cash at year end of &pound58.2m

&middot Total dividend increased 11% to 10.0p (2010: 9.0p)

&middot Headcount at year end of 5,286, up 17.5% on 2010

Commenting, Steve Ingham, Chief Executive of Michael Page, said:

"We are delighted with our performance in 2011, with improved profits being generated from a broad and diverse set of geographies and business streams. The strength of our results reflects our ability to launch organically and grow businesses around the world, whilst maintaining a strong balance sheet. This ensures we are consistent in our strategy of always maintaining our business platform during economic downturns and retaining our most experienced and talented people.

"While increasing returns to shareholders, we continued to have a long-term vision for the business and, therefore, made significant investments. During 2011 and the start of this year, we have opened 22 new offices including Pudong, Suzhou, Houston, San Francisco, and Cologne as well as new country operations such as Malaysia, India, Qatar and Colombia, all of which have had a successful start.

"While mindful of the current macroeconomic outlook, we are in a good position to continue this investment. We now have 1,020 consultants, 42 offices, across 11 countries, in the territories of Asia, Latin America and Germany, which generated 26% of our gross profit and grew by 52% in 2011. These, amongst others, provide us with numerous long-term growth opportunities.

"As the second half of last year progressed, trading became more challenging as general business confidence fell. All regions in which we operate were impacted, with growth rates slowing, but remaining positive. In the first two months of 2012, with the exception of financial services, we have seen no significant further slowing, and in a number of geographies activity levels have remained strong, increasing Group gross profits by approximately 10%."

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