Tuesday preview: Michael Page International reports

Michael Page International is expected to report a profit decline but an improvement in revenue when the white collar recruiter unveils its first-quarter results Tuesday.

Its focus on permanent recruitment, which accounts for 78% of gross profit, is likely to drag on performance, according to analysts.

The company's main growth has come from temporary hires as employers remain cautious to take on permanent staff.

However, if the firm's full-year results in March were any indication, the first quarter should show rise in earnings.

At the time of the annual statement, Michael Page outlined a modestly improving outlook and said it anticipated the hiring environment would gain momentum through the year.

JP Morgan Cazenove forecasts a gross profit of £131.6m for the first quarter, a like-for-like decline of 3.7%, after a 3.6% fall in fourth quarter and 7.7% growth for the same period a year earlier.

Tuesday April 16th

INTERIMS

Utilitywise

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Consumer Price Index (EU) (10:00)

ECB President Draghi speaks at European parliament (14:00)

Harmonised Index of Consumer Prices (EU) (10:00)

Housing Starts (US) (13:30)

Industrial Production (US) (16:15)

ZEW Survey (EU) (10:00)

ZEW Survey (GER) (10:00)

CPI (US) (13:30)

Housing starts (US) (13:30)

Industrial production (US) (13:30)

FINALS

JSC Acron GDR (Reg S), M. P. Evans Group

ANNUAL REPORT

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AGMS

Maven Income and Growth VCT 5, Ottoman Fund Ltd., Perform Group, Porvair, Telecity Group

UK ECONOMIC ANNOUNCEMENTS

Producer Price Index (09:30)

Consumer Price Index (09:30)

Q1

Michael Page International

RD