UPDATE 1-Michael Page Q1 profit down a third

* Permanent placements 39.3 pct lower in Q1 yr-on-yr

* Impact of financial crisis evident in every market

(Adds further details)

LONDON, April 7 (Reuters) - British recruiter Michael Page (MPI.L) on Tuesday said its first-quarter gross profit fell by a third as slowing economies, particularly in the UK and Asia, continued to dampen worker demand.

Michael Page, which specialises in placing professional staff, posted a gross profit of 95 million pounds ($141.7 million) for the three months to the end of March compared to 140.3 million pounds in the same period last year.

The company said gross profit from permanent placements fell 39.3 percent during the quarter, while temporary profit fell 7 percent.

"Market conditions continued to weaken during the first quarter of 2009, with the impact of the financial crisis now evident in virtually every market and discipline in which we operate, albeit to varying degrees," Chief Executive Steve Ingham said in a statement.

(Reporting by Rhys Jones; Editing by John Stonestreet)