Over 40 years’ heritage
185,800 clients worldwide
Over 15,000 markets

Currency markets hamper Michael Page

Fluctuations in currency markets are expected to hinder the international recruitment firm’s year-end results on Tuesday 13 January. 

People at a jobs fair
Source: Bloomberg

The full-year outlook for the firm suggests the adjusted earnings per share will climb from $0.151 up to $0.165. Sales will also be fractionally higher, increasing from $1.006 billion up to $1.029 billion, and this in turn should see the company’s pretax profit rise from $64.057 million to $77.444 million.

European employment levels have continued to creep lower with the eurozone hovering around the 11.5% level while the UK’s unemployment levels are now down to 6%. The employment arena is of course slightly different around Europe, with the UK seeing increases in temporary employment as opposed to permanent contracts.

Last year saw volatility in the currency markets negatively affect the company, because of its global exposure, and early indications suggest that 2015 will be similar. The last set of quarterly figures from Michael Page triggered a 8.65% collapse in the share price, a gap that has subsequently been filled as the share price has broken through the 100-day moving average and edges towards overbought levels just below the 420p level.

The information on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it and as such is considered to be a marketing communication.