The group said UK gross profits during the second quarter this year rose by 1.2% to £48.5m compared to last year.

But the figure is down from the 6.7% and 16% growth seen during the previous two quarters.

Profits from finance and accountancy recruitment fell 8% in the second quarter.

Michael Page, whose UK business contributes nearly a third of group profits, said second quarter trading was boosted by Easter falling in March, but this was “offset by the continuing weakness in the banking and related sectors”.

The UK was by far the worst performing region for the recruiter. Overall gross profits were up by 26% to £152.4m during the second quarter, boosted by growth on mainland Europe, Asia-Pacific and America.