RECRUITMENT group Michael Page International reported a good third quarter period in a trading update today.

The firm, which operates a financial and legal recruitment office in Liverpool’s Edmund Street, revealed a 26.5% increase on gross profits of £142.7m compared with the same period last year.

Broken down by region the improvements included £58.2m of gross profits for the quarter from Europe, the Middle East and Africa, a 30.8% rise.

The UK posted gross profits of £33.1m (0.3% better); Asia Pacific contributed £29.2m (44%); and the Americas £22.1m (48.3% better).

The permanent placements sector accounted for £112.6m of gross profits, up by 28.4%, while the temporary market made £30.1m of gross profit, a 20% improvement.

Total staffing rose 4.5% during the period to 5,350, while net cash reserves rose from £23.6m in June to £45m by the end of September.

Chief executive Steve Ingham said: “The group is in a strong position both financially and as a result of our successful strategy of diversification, both by geography and business discipline.

“Markets have weakened and become more uncertain reducing our short term visibility.

“However, while mindful of the uncertainty in so many of the world’s economies, we continue to invest where there are opportunities for longer term growth.”

The business has opened 15 new offices so far this year, including entry into three new countries.