Interim Management Statement

RNS Number : 9021R

Robert Walters PLC

08 May 2009

 



8 MAY 2009

ROBERT WALTERS PLC

('Robert Walters', 'the Company' or 'the Group')

INTERIM MANAGEMENT STATEMENT

Robert Walters is today publishing its Interim Management Statement for the four month period from 1 January 2009 to 30 April 2009. This statement will be read by Philip Aiken, Chairman of the Company, at the Robert Walters Annual General Meeting, which commences at 10.00am today: 

'Trading conditions across all of our markets remain very challenging. As stated in our 2008 year-end results announcement, net fee income declined by 21% in January and February of this year. The rate of decline increased in March and April, with net fee income down 28% in the first four months of the year compared to the comparative period in 2008.

'We continue to react quickly to market conditions and have further cut our cost base, with headcount reduced by 249, since the beginning of the year, to 1,322. Related one-off costs and the adverse market conditions make it probable that the Group will report a loss for the first six months of the year. The Group's interim results will be announced on Friday 28 August 2009.  

'The Group's balance sheet and cash position remain strong - our strategy is to manage the current downturn as effectively as possible, whilst preserving the breadth of disciplines and geographic coverage to enable the Group to take full advantage when the market recovers'.

ENQUIRIES:

Robert Walters plc	[phone]
Robert Walters, Chief Executive
Alan Bannatyne, Group Finance Director
Pelham PR
James Henderson	[phone]
	[e-mail]

Archie Berens	[phone]
	[e-mail]

 

END

 

 

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