UPDATE 2-Michael Page gets a boost from Asia, Americas

* Q2 profits up 14 pct on Q1, 33 pct up on Q2 2009

* Profit from permanent placements up more than 50 pct

* Asia, Americas strongest geographic performers

* Ends H1 with more bankers on books for the year so far

* Shares up 2.57 pct

(Adds background, CEO quotes, analyst comment, shares)

By Golnar Motevalli

LONDON, July 9 (Reuters) - UK recruiter Michael Page International (MPI.L) reported a strong rise in second quarter profit, boosted by demand for staff in Asia and the Americas and in the banking and financial sector.

Michael Page, which places professionals such as accountants and lawyers, said its gross profit rose 14 percent to 111.5 million pounds ($169.1 million) in the second quarter compared with the previous quarter.

"It's a direct result of the diversity of our business, we now have 40 percent of our employees working in the fastest growing markets by geographies," Chief Executive Steve Ingham told reporters on a conference call.

However, the company said market conditions "remain uncertain" in Europe, the Middle East and Africa as there are fears of a double-dip recession. [ID:nSGE659004]

Jobs in Britain's public sector are set to contract following the government's budget which announced spending cuts of 6.2 billion pounds in the 2010-2011 financial year, although Ingham said it would only have a small impact on Michael Page. [ID:nLDE66720U] [ID:nLDE65M0VY]

The Asia Pacific and Americas regions performed strongest, increasing year-on-year second quarter earnings 85.2 percent and 87.9 percent, respectively.

"I remain reasonably confident looking forward," Ingham said.

The company said gross profits from placing people in permanent jobs, which account for 79 percent of the group's business, were up 51.5 percent, compared with the same period in 2009. Temporary placements dropped 8.3 percent compared with last year.

MORE BANKERS PLEASE

Ingham said the firm ended its first half with the highest number of banking jobs on its books for this year so far.

The financial sector as a whole showed a strong recovery, as employers sought to replenish workforces which took a hit in the economic downturn, Ingham said.

"Confidence is improving, particularly in the white collar market," he said.

This echoed what other recruiters Hays (HAYS.L) and smaller rival Robert Walters (RWA.L) said in their trading updates earlier in the week. Both companies also attributed profit increases to strong demand in regions outside of Europe. [ID:nLDE66705R].

Panmure Gordon upgraded its recommendation on Michael Page's stock to 'buy' from 'hold'.

"Page remains well placed, and should be one of the greater beneficiaries of recovering markets. With a strong financial position and ongoing share buybacks the model remains flexible enough to invest in rapidly if underlying demand justifies it," Panmure analysts Paul Jones and Mike Allen said in a note.

Shares in the group were up 2.57 percent to 395.7 pence per share by 0926 GMT. (Reporting by Golnar Motevalli; Editing by Sharon Lindores) ($1=.6593 Pound)