Michael Page Plc reports Q3 results
Michael Page International reported improved third-quarter financials, marking the first time since late 2022 that its gross profit saw growth. The recruiter's gross profit rose to GBP 190.5 million, representing a 1.5% increase in constant currencies and a 1.4% rise in reported rates. Management expressed confidence in their 2026 operating profit projection, estimating it to be around GBP 29 million, in line with consensus expectations.
Productivity per fee earner increased by 6% year over year, a significant improvement compared to the company's record year of 2022. The company's net cash position ended the quarter at GBP 6 million, while total headcount stood at 6,604 employees. The company's first-quarter growth since Q4 2022 was a notable shift after a prolonged decline.
Revenue remained relatively unreported, with investors evaluating the update based on operating trends and management's outlook. Michael Page's share price fell 1.88% to $190.35, trading 24.8% below its 52-week high of $253.2. While modest in scale, the return to growth was seen as a positive sign, albeit slow and uneven across various regions.
The company expects 2026 operating profit to be about GBP 29 million, reflecting consensus estimates.
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