Recruitment firm, Michael Page has said that it has recorded a fall of 20 per cent in gross profits during the first half of the year in its Australian operations.

Chief executive Steve Ingham has said that the company has faced difficult market conditions in the country. The slowdown in the mining sector has affected the company in Australia as it specialises in the sector. The slowdown in the sector reduced demand for the services in the country resulting in the fall of 20 per cent in its gross profit.

The company, which has presence in more than 34 countries across the world, said that Australia and New Zealand was the only region where it recorded a fall in operating profits during the first half of the year. Michael Page reported a fall in group pre-tax profits to £32million from £36.1million in the first half of 2012.

The company said that is expects a difficult third quarter as difficult conditions expected to continue in some regions. The company is also aiming at cutting costs and has reduced its head count by 144 since the beginning of the year.