Michael Page third quarter fees supported by Americas and Asia Pacific

Michael Page PLC on Tuesday backed its annual guidance but warned there remains a "significant degree of uncertainty," despite continued improvement in a number of its markets.

Shares in the Weybridge, Surrey-based fell back after a bright start in London on Tuesday, trading down 3.3% at 187.70 pence each. They had earlier swapped hands at as high as 203.80p.

Gross profit rose 1.4% to £190.5 million in the third quarter of 2026 from £187.8 million a year prior. At constant currency, it rose 1.5%. It is its first quarter of growth since the final three months of 2022.

Permanent recruitment gross profit rose 0.8%, or 1.1% at constant currency. Temporary gross profit grew 3.0% or 2.6% at constant currency.

Michael Page highlighted strong performances from Americas and Asia Pacific, both delivering accelerating growth, and "challenging but stable" market conditions in France, Northern Europe and the UK.

Gross profit rose 13% in the Americas and Asia Pacific, or 8.9% and 15% at constant currency. In Europe, Middle East & Africa, gross profit fell 5.0%, or 3.8% at constant currency. In the UK, gross profit fell by 5.5%.

Chief Executive Nicholas Kirk said the US business delivered its eighth consecutive quarter of growth driven by strong demand within construction and manufacturing.

While in Asia Pacific, the firm saw continued momentum across Asia and standout performances from Japan, Greater China and India.

"In the markets where we have experienced improved trading, this has been driven by a normalisation of conversion of offers to placements," Kirk explained.

In France, Northern Europe and the UK, permanent recruitment "continues to be more challenging than temporary as clients seek greater flexibility," the CEO added.

Michael Page expects operating profit for the financial year to be in line with company compiled consensus of around £29 million.

"Whilst we continued to see improvement and normalisation in trading in a number of our markets, there remains a significant degree of uncertainty," Kirk added.

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