Q2 Trading Update

RNS Number : 9420O

Robert Walters PLC

07 July 2010

 



07 July 2010

ROBERT WALTERS PLC

Trading update for the second quarter ended 30 June 2010

FINANCIAL HIGHLIGHTS

·      Group Q2 net fee income (gross profit) up 59% (51%*) to £39.7m (2009: £24.9m)

·      Asia Pacific Q2 net fee income up 99% (75%*) to £19.5m (2009: £9.8m)

·      UK Q2 net fee income up 36% to £11.6m (2009: £8.5m)

·      Europe Q2 net fee income up 25% (29%*) to £7.8m (2009: £6.2m)

·      USA, South Africa and South America Q2 net fee income up 119% (105%*) to £0.8m (2009: £0.4m)

·      Net cash position remains strong

·      Group headcount of 1,539 (30 June 2009: 1,260)

Robert Walters, Chief Executive, commented:

"Recruitment activity accelerated markedly in the second quarter and as a result Group net fee income for the half year was up 45% (39%*) to £72.3m (2009: £50.0m). Our Asia Pacific business has delivered an outstanding performance and we intend to continue growing our office footprint across the region to build on our market leading position. Our UK business has also experienced increased levels of activity, most notably in the financial services sector. In Europe, the Group has done well to grow net fee income against a backdrop of continuing economic uncertainty.

"We have invested significantly in the business during the first six months of the year, increasing headcount by 21% to 1,539 and further developing our IT, training and marketing infrastructure to underpin the Group's strategy for growth."

The Group will publish its Half-yearly Financial Results for the six months ended 30 June 2010 on Thursday 26 August 2010.

* Constant currency is calculated by applying prior year exchange rates to local currency results for the current and prior years.

ENQUIRIES:

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

 

END

 

 

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