Michael Page seeks new CFO as profits edge higher

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Recruitment company Michael Page has begun the search for a new chief financial officer following the resignation of Andrew Bracey, who had been in the role for 18 months.

Bracey joined Page from online supermarket Ocado in April 2012 and Kelvin Stagg has been appointed acting chief financial officer after he decided to quit.

The resignation was revealed as Page reported gross profits of £127 million for the third quarter, a year-on-year increase of 0.4 per cent.

Chief executive Steve Ingham said the group expects to deliver a full-year operating profit of about £68m, up from £65.1m a year ago.

He added: “Although we have limited visibility, we expect the fourth quarter to be another challenging quarter, with difficult conditions likely to continue in some markets, but with gradual improvements in others.”