Permanents drive Michael Page profit

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Michael Page International posted a 32 per cent jump in profits yesterday, driven largely by a rise in permanent placements.

The recruitment company, which finds jobs for people in the financial, accounting and legal services sectors, said its second-quarter gross profits of £148m were ahead of expectations but it expected 2011 profit would be broadly in line with current market estimates of £112m because it was continuing to invest in developing its business "both by geography and discipline".