Recruiter sees better markets

STAFFING firm Michael Page said market conditions had stabilised and it is hiring its own staff in some areas, adding to positive comments from rivals.
By The Newsroom
Published 5th Mar 2010, 08:46 BST

"We are well positioned to improve significantly our performance in 2010," the firm said as it reported an 86 per cent slump in 2009 profit.

It posted operating profits of 20.2m compared with 140.5m for the previous year.

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Michael Page had said in a fourth-quarter trading update in January that it expected 2009 operating profit to be around 20m.

Earlier this week, leading job agencies Adecco and USG People said companies are starting to hire again and demand for workers will pick up in 2010.

Shares in Michael Page closed at 395p on Thursday, after touching a 5-week high of 396p during the day.