Article: CITY COMMENT: 28/10/09.

In a fortnight, which contained a triple header of updates from Michael Page, Hays and Robert Walters, several important landmarks were achieved: analysts upgraded their Michael Page earnings forecasts for the first time in two years; revenue growth has started to improve; and industry profitability seems likely to have troughed in the second quarter.

After a tumultuous couple of years, the industry seems to have passed its lowest point and may finally be on the road to recovery.

Michael Page kicked off the reporting season with a statement packed with positives. Although net fees declined by 45% in Q3, this figure was at the top end of expectations ...

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