Robert Walters PLC
08 May 2008
8 MAY 2008
ROBERT WALTERS PLC
('Robert Walters' or 'the Company')
INTERIM MANAGEMENT STATEMENT
Robert Walters plc is today publishing its Interim Management Statement for the
four month period from 1 January 2008 to 30 April 2008 and this statement is
being read by Philip Aiken, Chairman, at the Company's Annual General Meeting,
which commences at 9.30am today:
'There has been little change to trading conditions since our last announcement
at our annual results at the end of February 2008. Trading in the first 4 months
of 2008 has been in line with expectations and the Group's international spread
of business has, as expected, enabled it to offset the adverse conditions
affecting the UK, especially in the financial sector. We have also benefited
from higher overseas earnings due to the recent weakness of Sterling.
We have experienced a shortage of candidates in the majority of our markets,
whilst certain banking sector clients have demonstrated greater caution in
hiring for permanent placements.
Net fee income for the first four months of the year was 19% above that achieved
in the same period in 2007 (12% on a constant currency basis).
We are satisfied with the outcome for the first four months of the year, with
the Group benefitting from its diversified geographical nature and stronger
trading conditions in Europe and Asia Pacific relative to the UK. Accordingly
the Board's expectations for the full year remain unchanged subject to no
significant deterioration in current market conditions.
During the period, the Company has purchased 4,150,000 shares at an average
price of £1.64, totalling £6.8m.'
This information is provided by RNS
The company news service from the London Stock Exchange
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