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LONDON (Dow Jones)--U.K. recruiter Michael Page International PLC (MPI.LN) Monday said that weak economic confidence continued to hurt its business, resulting in a 49% decline in first-half pretax profit, amid expectations of yet another tough quarter ahead.
The company said that market conditions remain weak with a seasonally challenging quarter ahead, as people go away on holiday and don't move jobs, both in Continental Europe, which was later into the downturn, and in the U.K.
Collins Stewart analyst Julian Cater said he interprets the update as saying the third quarter will be loss-making.
Recruitment companies have been ...
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