[R]12:00PM New York - Michael Page International fourth quarter profit rises 128.2 million pounds[/R]

Michael Page International reported yesterday fourth quarter gross profit rose 37.1% to 128.2 million pounds compared to 93.1 million pounds reported in the year ago quarter buoyed by increased sales in Europe, Middle East and Africa.

The specialist recruitment consultancy headcount soared 5.8% during the fourth quarter, with the Group’s employees rising to 5,000 employees in 149 offices in 25 countries from 2,666 employees operating from 91 offices in 14 countries in 2000.

In the quarter, the Group repurchased and held in Trust an additional 3.5 million shares at a cost of 14.9 million pounds, at an average price of 423 pence.

New branches were opened in the third country in Latin America in Buenos Aires, Argentina in December.

In Europe, Middle East and Africa, which is the company’s niche market, fourth quarter gross profit jumped 55.9% to 57.7million pounds compared to 37 million pounds realised over the comparative period in 2006.

However, full year gross profit for the EMEA region increased 55.2% to 196.5million pounds compared to 26.6 million pounds a year ago.

In France the business recorded a 35% growth rate, while the remaining EMEA countries gained by a cumulative 57%. Headcount as at December 3 stood at 2,078.

In the UK fourth quarter gross profit rose 15.6% to 45 million pounds compared to 38.9 million pounds over the same period last year, while full year gross profit grew 19.4% to 186.0 million. The growth was despite notable weaknesses recorded in the banking sectors.

Headcount as at December 31 stood at 1,799.

In the Asia Pacific fourth quarter gross profit climbed 30.6% to 14.8 million pounds from 11.3million pounds recorded in the fourth quarter of 2006. Similarly, full year gross profit rose 27.3% to57.2 million pounds.

For the quarter gross profit also rose 26% in Australia and 26% in Asia notwithstanding weakness in the banking sector, while in the Americas gross profit soared 81.6% to 10.7 million pounds.

The recruitment consultancy’s full year gross profit climbed 37.1% from 348.8 million pounds in 2006 to 478.1million pounds in 2007. Group headcount at 31 December was 5,052.

In the year the Group repurchased and cancelled or held in Trust a total of 15.1million shares at a cost of 74.4 million at an average price of 494 pence.

Furthermore 61% of the gross profit in 2007 was generated outside the UK, with EMEA contributing 41% of Group’s gross profit.

According to Chief Executive Officer Steve Ingham, the group recorded phenomenal growth in 2007 that was underpinned by organic growth and diversification of the business.

“''We continue to experience strong demand for talent around the globe and while mindful of the uncertainties surrounding the current global economic outlook, with numerous opportunities to grow our existing and new businesses, we are confident in the prospects for Michael Page,” commented Ingham.